Op-Ed: Australians the world’s richest people says Credit Suisse

Posted Oct 9, 2013 by Paul Wallis
A new report from Credit Suisse says that Australians are the world’s richest in median wealth, the average between richest and poorest. That’s overlooking our poverty rate of around 20% but who wants to know numbers that might mean something?
Koalas are without a doubt one of Australia s trade marks. Sleeping a good 20 hours a day  they spen...
Koalas are without a doubt one of Australia's trade marks. Sleeping a good 20 hours a day, they spend the remaining hours munching on eucalyptus leaves.
According to the report, the median wealth rankings were:
Australia $220,000
Luxembourg $183,000
A group of Belgium, France, the UK and Japan $110- $150,000
Finland, Norway and Switzerland $95,000
The US wasn’t in the six figure group, staggering in with an average wealth of $45,000.
Australia also had 2.3% of the world’s billionaires, and more millionaires per size of population. We have 1.123 million millionaires from a 23 million population, compared to the US, with over 300 million people.
Sydney Morning Herald:
The US remains the millionaire capital of the world, with 13.2 million people topping the seven-figure mark and nearly 46,000 people in the ultra-high net worth $US50 million-plus category.
Sydney Morning Herald cites slightly different figures from the report it links to. This may be related to the exchange rate, but:
By the measure of average wealth, Australians fall back to second with $US402,578 per person, ranking behind the Swiss who were the world’s richest on $US513,000.
So the net wealth figures double and quintuple for the same countries, using a different measure? No wonder they’re the world’s financial home away from home.
One way or the other we beat the Yanks, which is always good. They have 4% of the population being millionaires, we have 5%.
Of course, in Australia things are different.
I’m a case in point. I live the usual life of an internet writer, with supermodels tunnelling and gnawing their way through steel reinforced foundations to meet me. I keep tripping over my seemingly endless Nobel and Pulitzer Prizes (they really like my post-it notes) when making equally endless cups of tea. The walls are encrusted with diamonds and other bric a brac, more supermodels and the floor has to arrange an appointment to make contact with my majestic Ugg boots.
In my neighbourhood, we’re simply awash with teachers, nurses, and Aboriginals driving late model Ferraris. Can’t move without tripping over some uber-rich old age pensioner trying to find a way to avoid getting a hernia from all that extra cash. We have thousands of single mothers buying spare European countries for the kids and those nice Himalayas for their pets.
Mundane, I know. Bravely, we struggle on.