Iceland No Longer among World’s Richest States Skip to content

Iceland No Longer among World’s Richest States

Switzerland and Norway are among the world’s wealthiest countries, based on average wealth per individual. However, Iceland has fallen into a ‘loser’ category along with Argentina, according to the annual Global Wealth Report from Credit Suisse.


Copyright: Icelandic Photo Agency.

The report says that a grown Swiss citizen owns USD 373,000 (ISK 41 million, EUR 266,000) on average, while each Norwegian adult owns USD 327,000 (ISK 36 million, EUR 233,000) on average. Both real estate and cash is taken into account, reports.

The report also states that China, which places third, has been racing up the list in recent years. The US places fourth and Japan fifth.

Regarding Iceland and Argentina, the report says that the assets owned by each citizen in these countries has depreciated by approximately 30 percent between the last two years, which is the most extensive depreciation listed in the report.

However, the report doesn’t say how high these amounts are or where Iceland currently places. Before the banking collapse in 2008, Iceland used to place in the top ten in listings of the world’s wealthiest countries.

The Global Wealth Report covers 4.4 billion individuals around the world. However, there are 2.5 billion people who don’t have bank accounts and are not included in the report.

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