Financial assets continued to grow – and no end in sight

Frankfurt / Main (dpa) – The stock market boom and downturn in consumption made many people richer in the year of the Corona crisis 2020.

The gross financial assets of private households rose worldwide Calculations by the insurer Allianz on the record sum of 187 trillion euros – an increase of 9.7 percent over the previous year.

“While the economy is on the roller coaster, global financial wealth only knows one direction,” said Allianz chief economist Ludovic Subran at the presentation of the wealth study on Thursday. According to economists, there is no end in sight to asset growth: they are forecasting seven percent growth for the current year.

However, the enormous sum is still anything but evenly distributed. The richest ten percent of the world’s population – about 520 million people in the 050 countries surveyed – according to the information they have together well 84 percent of the total wealth . And the one percent of the super-rich below comes to almost 41 percent of the total – average financial wealth Less debts: more than 1.2 million euros.

Pandemic exacerbates wealth inequality

According to the Allianz experts, the pandemic is likely to exacerbate wealth inequality, both between rich and poorer countries as well as within states. It is very likely that the corona crisis will weigh on economic growth in poorer countries for much longer than that of industrialized countries, said Patricia Pelayo Romero, co-author of the wealth study. The gradual closing of the prosperity gap is no longer a sure-fire success.

The main driver of the growth in gross financial wealth in the past year was the – to a large extent almost inevitable – increase in savings. Because of the restrictions in the pandemic, many people were unable to spend their money as usual. A number of trips were canceled, the temporary closure of restaurants and shops slowed down consumption. percent climbed to the record value of 5.2 trillion euros, calculated the alliance. Funds that people simply left in their bank accounts almost tripled (plus 187 percent). According to official figures, the savings rate in Germany 2020 soared to the record high of 16, 2 percent. In other words: From 100 euros of disposable income, households achieved on average well 16 Euro on the high edge.

Anyone with wealth also benefited from the pandemic that states and central banks cushioned the corona shock with aid worth billions. As a result, the stock markets also recovered quickly. Those in Germany who discovered the stock exchange in the year of the Corona crisis participated in this. 12, 35 The Deutsche Aktieninstitut (DAI) had million shareholders in the year 2020 and thus the highest Status for almost 20 years.

For the first time since 2000 last year, Germans invested more fresh money in stocks and funds than in insurance, as Allianz expert Arne Holzhausen explained. It is true that the majority of savers in this country are still “not in the situation that the money is working for them”. The capital market share of financial assets is still relatively small. “But a start has been made,” said Holzhausen. The Germans gradually shook off their reputation as a “stock muffle”. However: Due to the high proportion of bank deposits with poor interest rates, according to Allianz calculations, Germans face a monthly loss of purchasing power of seven billion euros in view of rising inflation 2021.

Ranking list of 20 richest countries: Germans ranked 19

After deducting debt, the global financial assets of households in the Allianz examined states 2020 by eleven percent to net 153, 5 trillion euros. In its twelfth Global Wealth Report, Allianz takes into account cash, bank deposits, securities and claims against insurance companies and pension funds, but not real estate.

With gross financial assets of 85. 370 euros per capita rank the Germans in the ranking of the 20 ranked as one year earlier 19 in front of Italy. Less debts were net 61. 760 euros and thus unchanged place 18. The gross rankings are headed 2020 as in previous years by the Swiss with now 313. 260 euros per capita before the Americans (260. 580 Euros) and the Danes (212. 570 euros). After deducting debts, the Americans were ahead with 218. 470 euros, followed by the Swiss (212. 050 Euro) and Danes (149. 240 Euro).

After all: In Germany, too, gross financial assets have recently increased steadily. According to the Bundesbank, private households in this country owned 6 050 trillion euros at the end of last year, this record was three months later already exceeded again with 7143 billion euros. Above all, price gains on the stock exchanges are having a positive effect. Allianz’s forecast: “A similar dynamic development can be expected for 2021 – unless there is a sharp correction on the stock markets.”

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