If you lived in these countries you would likely have seen your wealth surge during the coronavirus pandemic, says a new study.
Adults in the Philippines, Egypt and Bangladesh saw the biggest increases to their wealth to the tune of around 10%, says a report from Credit Suisse published on Thursday (22 October).
In fourth place, adults in the Netherlands added roughly $15,000 dollars to their wealth in the first half of 2020. But it was China, in fifth, that is the big success story.
“China is one of the winners and wealth per adult has been increasing and we expect that just to persist,” says Nannette Hechler-Fayd’herbe, chief investment officer of International Wealth Management at Credit Suisse. The average wealth per Chinese adult stands at $74,621, a 5.5% increase since January when the country was in the process of quarantining Wuhan.
Today Wuhan is booming with factories re-opening and consumers shopping again. Earlier this week, China reported that its economy grew by 4.9% in the third quarter of this year, while most other major economies were in recession.