According to a report released by Credit Suisse, a Swiss investment bank, Australians are the richest in the world on one measure, median wealth per adult. If the report is true, it is good news for service providers like plasterers in Sydney because their services will be required for home building and improvements. It is expected that rich Australians will prefer to live in comfortable and impressive homes that they will be proud to show off to their friends.
According to Credit Suisse, the median Australian adult alive today has acquired US$191,453 in wealth, assets less debts. Meanwhile, a median Swiss adult has only accumulated US$183,339 in wealth. In average terms, Switzerland still retains a comfortable lead because the average Swiss adult has accumulated wealth of US$530,240 compared to an average Australian adult’s US$411,060. This means that Australians are only second globally, just ahead of the Americans.
Average numbers are higher than medians because there are a small number of very wealthy people that are pushing the numbers upwards. Based on quarterly financial accounts released by the Bureau of Statistics, Australians have amassed wealth or net worth equivalent to$10.4 trillion. Total assets are worth $12.8 trillionminus liabilities that are worth $2.4 trillion.
If the estimation of the Bureau of Statistics of combined net worth of $10.4 trillion is divided by 18 million adults, the average net worth figure will be $575,000 which is not too far from the Credit Suisse’s estimations. However, are Australian’s happy being the richest individuals in the world?
According to the results of a survey made by the Committee of Economic Development of Australia, 50% of the baby boomers do not believe that they benefited much from the 27 years of consecutive growth. Benefits of economic success have simply passed by because of the rising inequality.
It is entirely possible that many households are indeed rich. They can afford to remodel their homes on whim. Whatever the plans are, plasterers in Sydney are always available to provide their professional services to handle a project from start to finish with a minimum of fuss. Absolute quality is guaranteed to ensure that the home looks its best.