MEXICO CITY (El Universal).— Mexico is one of the countries with the greatest cultural and natural wealth, however, it is expected that in at least five years the number of millionaires will increase as well as the inequality figures.
In the Global Wealth Report 2024, prepared by USB Group AG, Mexico is ranked 8th among countries with new millionaires, with an increase of 24% compared to 2008.
According to the document, the country will have more millionaires, as it will go from 331,538 registered last year to 411,652 by 2028, that is, 24% more, according to projections by UBS Global Wealth Management.
According to the document, the global organization compares the number of millionaires in other countries such as Taiwan, Turkey, Kazakhstan, Indonesia, Japan, South Korea, Israel, Thailand and Sweden, where the growth rate ranges from 47% to 22%.
Global wealth has been steadily increasing since 2008, despite recessions and financial crises, which has caused inequality to decline slightly in North America, while it has increased in Latin America.
The study was conducted with a sample of at least 56 markets with a comparison from 2008 to 2023, in addition to specifying the growth or decrease in inflation, wealth, exports and imports, among other figures since 2022.
The analysis reveals that although Mexico will see an increase in the wealthier population, inequality will continue and will even reach higher levels than those estimated for 2008.
Regarding inflation, the document notes that inflation-adjusted real growth in global wealth reached 8.4%, which boosted real wealth growth compared to 2022, meaning that real growth exceeded nominal growth.
According to global figures, the highest concentration of average wealth per capita among the 56 sample markets was found to be in Mexico, which fell by nearly 20 percent.
Last year, the inflation rate retreated from the peak reached in 2022 and real growth exceeded nominal growth, these results are in line with the average growth in wealth per adult from 2022 to 2023 in terms of the Mexican peso.
Deceleration
According to the Global Wealth Report, the growth rate of wealth in Mexico has grown by 106% with a compound annual rate from 2010 to 2023.
However, according to the report, wealth in Mexico fell by 150% on average per adult, confirming that it has fallen in recent years.
In this regard, from 2000 to 2010, the financial institution registered a 173% increase, which means that each year it had a 10% increase. In the period from 2010 to 2023, it only had a 91% increase, that is, an annual increase of 5%.
Compared to the 2023 measurement, in most markets the average wealth is significantly higher than the median wealth per adult. This occurs when the figures are skewed upward by a particularly high wealth group at the top that overstates the wealth of the general population, and the median wealth figures are less distorted.
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2024-07-23 16:18:02