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Old 10-14-2013, 01:40 AM
 
Location: Earth
479 posts, read 505,437 times
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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.
Read more: Aussies the world's richest people: Credit Suisse
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Old 10-14-2013, 01:45 AM
 
1,100 posts, read 1,532,977 times
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Quote:
Originally Posted by shirleyeve View Post
Australians make the world's richest people the second year in a row.



Read more: Aussies the world's richest people: Credit Suisse
I wonder if the average Aussie feels any "wealthier" than they did 10 or 15 years ago?
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Old 10-14-2013, 01:47 AM
 
Location: Brisbane
4,300 posts, read 6,296,723 times
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Quote:
Originally Posted by shirleyeve View Post
Australians make the world's richest people the second year in a row.



Read more: Aussies the world's richest people: Credit Suisse
Rule number one of city data, never post anything positive about the country you live in, ( if you are Australia that is).

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.
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Old 10-14-2013, 03:25 AM
 
4,454 posts, read 6,361,160 times
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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.


Read more: Country's rich have lion's share of income growth
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Old 10-14-2013, 03:41 AM
 
Location: Hong Kong / Vienna
4,557 posts, read 5,747,412 times
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Quote:
Originally Posted by other99 View Post
Not a great deal of Australians are earning $US219,505.
The article doesn't mention annual income, but median wealth. A great difference.
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Old 10-14-2013, 03:57 AM
 
Location: Westminster, London
878 posts, read 1,277,854 times
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Exactly. A comparative breakdown according to income/net worth brackets should give more information.
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Old 10-14-2013, 04:28 AM
 
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Quote:
Originally Posted by danielsa1775 View Post

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".

http://www.smh.com.au/business/prope...822-1j5ev.html

Last edited by Richard1098; 10-14-2013 at 04:39 AM..
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Old 10-14-2013, 12:07 PM
 
Location: BC Canada
960 posts, read 1,123,298 times
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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.
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Old 10-14-2013, 08:05 PM
 
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It's because of the AUS dollar right now.
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Old 10-14-2013, 10:06 PM
 
2,675 posts, read 4,824,467 times
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Quote:
Originally Posted by mooguy View Post
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 10:26 PM..
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