Global Wealth Rises 4.6% in 2025, Driven by Strong Dollar and Market Gains, Says Zurich Study

Global personal wealth increased by 4.6 percent in 2024, edging past the 4.2 percent climb logged in 2023. Although every wealth tier enjoyed gains, the momentum was uneven, favoring Eastern Europe and North America more than other regions.
‍

UBS’s Global Wealth Report 2025 credits Eastern Europe with the fastest regional expansion, where total personal fortunes swelled by just over 12 percent. The United States followed closely, posting growth north of 11 percent thanks to a resilient dollar and buoyant capital markets.

‍

By contrast, Asia‑Pacific mustered less than 3 percent growth, while Europe, the Middle East, and Africa barely scraped half a percent.
‍

Taken together, the United States and China now account for a majority share of personal wealth worldwide. UBS assessed 56 economies covering more than 92 percent of global riches to compile these findings.
‍

Despite occasional year‑to‑year hiccups, the bank observes a clear upward trajectory in individual wealth since 2000 across every major region. Even after stripping out inflation and debt, net worth has climbed at an annualized 3.4 percent during the millennium.
‍

Looking ahead five years, UBS forecasts further gains in average wealth per adult, with the United States and Greater China leading the charge. Chief economist Paul Donovan attributes much of that expected progress to continuing technological advances and sturdy property prices. Housing remains the cornerstone asset for countless households and has propelled the surge in people holding between one and five million dollars.
‍

The United Arab Emirates exemplifies how policy reforms and brisk economic growth can turn a nation into a magnet for affluence. Dubai and Abu Dhabi now rank among the top destinations for high‑net‑worth migrants, who are lured by low taxes and high living standards.
‍

According to Savills, millionaire numbers in Dubai have doubled over the past decade, placing the city among the fastest‑growing wealth hubs. Globally, more than 680,000 fresh U.S.‑dollar millionaires appeared in 2024, a 1.2 percent uptick year over year.
‍

America produced roughly 379,000 of them, adding well over a thousand new millionaires every single day. China generated 380 new millionaires per day, highlighting its still‑robust wealth machine despite slower overall growth. UBS expects another 5.34 million people to cross the seven‑figure threshold by 2029.
‍

Turkey witnessed an 8.4 percent increase in millionaires in 2024, translating to about 7,000 additional affluent residents. The UAE ranked second with a 5.8 percent rise, welcoming roughly 13,000 new millionaires over the year. Within the Middle East, Saudi Arabia holds the crown with almost 340,000 millionaires, followed by the UAE’s 240,000 and Israel’s 186,000.
‍

Both Gulf nations have seen wealth per adult surge in local‑currency terms since 2020, even after adjusting for inflation. Financial assets dominate personal portfolios, representing about 62 percent of gross wealth in the UAE and 58 percent in Saudi Arabia. Real estate and land still command a hefty 48 percent share of fortunes in both countries, underscoring property’s enduring pull.
‍

UBS notes that “everyday millionaires” with investable assets between one and five million dollars have more than quadrupled since 2000. This cohort now numbers roughly 52 million individuals and collectively controls about $107 trillion.
‍

Rising house values and favorable currency moves have fueled most of that dramatic expansion. Average personal wealth is highest in North America at $593,347 per adult, with Oceania next at $496,696 and Western Europe at $287,688.
‍

However, Switzerland retains the global top spot on a country basis, edging out the United States, Hong Kong, and Luxembourg. Denmark, South Korea, Sweden, Ireland, Poland, and Croatia recorded the sharpest jumps in average wealth last year, each posting double‑digit gains.
‍

Looking further forward, UBS estimates that more than $83 trillion will change hands through inheritance and spousal transfers over the next quarter century.
‍

Roughly $9 trillion will pass horizontally between partners, while an enormous $74 trillion will flow to younger generations. The United States will witness the largest wealth migration, topping $29 trillion as baby boomers hand assets to heirs.
‍

In the Gulf region, inter‑ and intra‑generational transfers are forecast to reach $103 billion in Saudi Arabia and $19 billion in the UAE.
Those sums equal 4.6 percent and 1.4 percent of each country’s private wealth stock, respectively.
‍

UBS underscores that demographic shifts, policy frameworks, and evolving investment preferences will shape how smoothly this handover proceeds. Owners of small and medium businesses may confront succession challenges, while younger inheritors could reallocate assets toward technology and sustainable ventures.

‍

Policy makers also face pressure to craft tax and regulatory regimes that encourage productive deployment of inherited capital.
‍

Meanwhile, technological disruption and shifting property markets will keep influencing wealth creation patterns across regions. Automation, artificial intelligence, and renewable energy may deliver fresh fortunes for innovators and investors willing to embrace change. Conversely, abrupt interest‑rate movements or geopolitical shocks could slow momentum, leaving some regions vulnerable to setbacks.
‍

Yet the overarching narrative remains one of steady, broad‑based enrichment, even if the spotlight rotates among different parts of the globe. UBS concludes that resilient financial markets, ongoing urbanization, and improving access to investment products should support further personal wealth gains in coming years.
‍

For individuals, that means opportunities to climb the wealth ladder persist, though the path will vary depending on geography, education, and sector exposure.
For governments, the challenge lies in fostering inclusive growth while preparing for the colossal inter‑generational transfer now on the horizon.

‍