In terms of the total wealth held, it is 7th largest after USA, China, Japan, UK, Germany and India
South African economy researchers from New World Wealth company analyze to what extent a country is attractive to rich and super-rich, because in their opinion this provides information about the economic opportunities there and also about the living situation, i.e. security in everyday life, health care, school system, etc. Their latest report is about Australia, including HNWI trends (High Net Worth Individuals = millionaires and billionaires), luxury trends and wealth management trends in the country. The data take into account the impact of the recent coronavirus outbreak.
Key results are:
* Australia is the 7th largest wealth market in the world (in terms of total wealth held) after USA, China, Japan, UK, Germany and India. Notably, it ranks ahead of Canada, France, Italy and Korea by this measure.
* People living in Australia together hold US$6.3 trillion in net assets (or wealth). Around US$1.8 trillion (28%) of this is held by HNWIs.
* The average person living in Australia has net assets of approximately US$249,000 (wealth per capita). This makes Australia the 4th wealthiest country in the world by this measure, after Monaco, Switzerland and Luxembourg.
* There are approximately 390,000 millionaires (HNWIs) living in Australia, each with net assets of US$1 million or more.
* There are approximately 12,700 multi-millionaires living in Australia, each with net assets of US$10 million or more.
* There are 468 centi-millionaires living in Australia, each with net assets of US$100 million or more.
* There are 37 billionaires living in Australia, each with net assets of US$1 billion or more.
Note: “Wealth” refers to the net assets of a person. It includes all their assets (property, cash, equities, business interests) less any liabilities.
Source: New World Wealth
(09.02.2021, USA: 02.09.2021)