Brazil is the country that lost the most millionaires in 2020

Contrary to what people thought a year ago pandemicWealth increased 7.4% in total in 2020 418.13 trillion US dollars in the economies of families around the world. In addition, 5.2 million people amassed enough wealth last year to be part of a select group of millionaires, whose current number is 56.1 million.

The songs were mainly paid North America (10%) e Europe (9.85%)According to the bank’s annual global wealth report Swiss credit. On the other hand, families Latin america e India They have seen their fortunes decline in the past year, with negative spreads of 10.1% and 4.4% respectively as their currencies depreciated against dollar.

The main explanation for the increasing family wealth is that unlike what happened during 2008 financial crisisGovernments and central banks took swift action to mitigate the crisis. Among the reasons for the increase in wealth is the continued growth of stock markets, which reached record levels at the end of 2020, and the appreciation of stock markets. real estate sectorDriven by the low interest rates and savings achieved by families during the siege periods.

In its chapter devoted to representing the distribution of wealth between countries, Credit Suisse states that millionaires from Germany, Australia, Japan, France, the United Kingdom, China, Canada, the Netherlands, and Italy prefer their currencies to the dollar.

Although the decline in the number of millionaires worldwide was not significant – on the contrary, in the closing balance, the number of millionaires was greater than in 2019 – Brazil was recognized as the country that lost the most representatives. Of the 315,000 people who had assets of more than $1 million in 2019, only 207,000 were left by the end of 2020..

In second and third place among the countries that lost the largest number of millionaires was India – which fell from 764 thousand to 698 thousand – and Russia (from 313 thousand to 269 thousand). The countries with the largest number of millionaires were: United Statewhich increased from 20.2 million to 21.9 million, Germany (from 2.3 million to 2.9 million) and Australia (From 1.4 million to 1.8 million).

inequality

Credit Suisse also notes that the pandemic has led to a broad increase in inequality around the world. While the crisis has forced the poorest to use their savings or even increase their debt, the richer groups have been less affected by lower economic activity, or more importantly, they may have benefited from lower central bank interest rates.

However, the increase in inequality is more a result of the measures taken (or not) to mitigate its impact than a direct result of the epidemic itself.

In general, income inequality is high in all countries, but exceptionally high in others, the report says. For example, if a Gini index, which measures this variance, is in the 70s, it is considered “relatively low,” while an index above 80 is considered “relatively high.” Brazilian Gini index at 89 points. / With information from EFE