New Zealand’s world-beating jump in wealth down to ‘rise of landed gentry’, says economist
by Eva Corlett in Wellington from on (#63W56)
Warning of increasing inequality as global wealth report shows average wealth per adult in NZ jumped US$114,000 in 2020
New Zealanders have topped the world for the biggest annual jump in wealth, however one prominent economist warned the figures were further evidence of growing inequality in a country that is experiencing a rise of the landed gentry".
The global wealth report by investment bank Credit Suisse shows New Zealand experienced the biggest spike in average wealth per adult, ballooning by US$114,000 (NZ$193,248) in 2020 to bring the total average wealth per adult to US$472,153 in 2021 - a 32% year-on-year increase.
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