The value of global financial wealth shrank for the first time in 15 years in 2022, declining by 4 percent to $255 trillion, according to Boston Consulting Group in its findings in the BCG Global Wealth Report 2023: Resetting the Course, the 23rd annual global wealth report.
Drivers include spiking inflation, the resulting rise in interest rates, and poor equity market performance against the backdrop of geopolitical uncertainty sparked by the war in Ukraine. However, the decline is expected to be short-lived, with a 5 percent rebound to $267 trillion expected in 2023.
Bright spots in 2022 include a 6.2 percent increase in the value of personal cash and deposits, as a more risk-averse approach to investments prevailed. Th
