Global financial wealth reached an all-time high of $250 trillion in 2020 as household savings rose and markets showed unexpected resilience in the face of the protracted COVID-19 pandemic, according to a new report by Boston Consulting Group (BCG).
The report, Global Wealth 2021: When Clients Take the Lead, reveals that, despite the pandemic's enduring financial impact, global prosperity and wealth grew significantly throughout the crisis and are likely to continue to expand significantly over the next five years, in line with the emerging economic recovery.
According to the report, North America, Asia (excluding Japan), and Western Europe will be the leading generators of financial wealth globally, accounting for 87 percent of new financial wealth growth worldwide between now and 2025.
Many wealth management clients in 2020 embraced alternative investments in their quest for higher returns, shifting away from low-yield debt securities. As part of this trend, r