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Australians make the world's richest people the second year in a row.
Quote:
Aussies the world's richest people: Credit Suisse
October 9, 2013
Australians remain the richest people in the world, by one measure at least.
The median wealth of adult Australians stands at $US219,505 ($233,504) - the highest level in the world, according to the Credit Suisse 2013 Global Wealth Report, released on Wednesday.
Median wealth is the midpoint between richest and poorest, meaning that 50 per cent of the population has more than $233,504, and 50 per cent less than that.
By the measure of average wealth, Australians fall back to second with $US402,578 per person, ranking behind the Swiss who were the world’s richest on $US513,000.
Not a great deal of Australians are earning $US219,505. If that the average income for this country then I only know a few people that earn that or more. A vast majority of people I know are earning less than that, for many much less that that. In addition it is a country were the rich are getting richer and the poor are getting poorer:
The richest 10 per cent of Australians have gained almost 50 per cent of the growth in income over the past three decades as inequality has widened throughout the Western world, according to one of the world's foremost authorities.
In addition
Australia's income distribution is the eighth most unequal in the Western world, topped only by the US, Israel, Portugal, Britain, Spain, Greece and Japan.
I doubt your average Aussie feels rich most of the wealth is tied up in housing equity, or pension (superannuation) funds they have no access to.
True, but on average Australians build the largest houses and apartments in the world, so that housing equity is not simply about market values. It's also about the physical scale and comfort of the homes we build, and hence not a bad proxy measure for "wealth".
Although Australia is certainly a wealthy country it is also a frightfully expensive one.
Nearly everything you buy in Australia will be far more expensive than in NA. Wages are higher in Australia but so are the expenses which is why these numbers mean little unless compared with purchasing parity.
Although Australia is certainly a wealthy country it is also a frightfully expensive one.
Nearly everything you buy in Australia will be far more expensive than in NA. Wages are higher in Australia but so are the expenses which is why these numbers mean little unless compared with purchasing parity.
Australia is a very expensive country and the cost of living has gone up ridiculously in the last 10 years. Australia must have one of the highest cost of housing prices in the world. The median house price in Sydney is AU$673,678 that is US$620,353.
Last edited by Bernie20; 10-14-2013 at 09:26 PM..
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I wonder if the average Aussie feels any "wealthier" than they did 10 or 15 years ago?
