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Which Countries Have the Most Wealth Per Capita?

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Animated Chart: Which Countries Have the Most Wealth Per Capita?

Which Countries Have the Most Wealth Per Capita?

Our animated chart this week uses data from the ninth Credit Suisse Global Wealth report, which ranks countries by average wealth, calculated as gross assets per adult citizen.

While using such a metric certainly gives a quick snapshot of wealth per capita, it doesn’t necessarily show the complete picture.

Some argue, for example, that calculating the mean doesn’t factor in the gap between the richest and poorest in a population—also known as wealth inequality. For this reason, we’ve compared this number to median wealth for each country, providing a separate angle on which countries really have the most wealth per capita.

Mean or Median: Which Makes More Sense?

Below, we’ve visualized a hypothetical example of two groups of people, each earning various sums of money, to show how average (mean) and median calculations make a difference.

Mean vs Median Comparison

What can we observe in both datasets?

  • Total wealth: $2,000
  • Total people: 15 people
  • Average wealth: $2,000 ÷ 15 = $133

However, that’s where the similarities end. In the first group, wealth is distributed more evenly, with the disparity between the lowest-paid and highest-paid being $300. The median wealth for this group reaches $100, which is close to the average value. In the second group, this gap climbs to $495, and the median wealth drops sharply to only $30.

Scaling up this example to the true wealth of nations, we can see how the median wealth provides a more accurate picture of the typical adult, especially in societies that are less equal.

Let’s see how this shakes out when ranking the world’s most affluent countries.

Ranking Top Contenders on Wealth per Capita

When it comes to wealth per capita, it’s clear that Australia and Switzerland lead the pack. In fact, the data shows that both nations top the lists for both mean and median wealth.

However, both nations also have the highest absolute household debt-to-GDP ratios in the world: in 2018, Switzerland’s levels reached nearly 129%, while Australia followed behind at 120%.

Here is a full ranking of the top 20 countries by mean and median wealth:

RankCountryMean wealth per adultCountryMedian wealth per adult
#1🇨🇭 Switzerland$530,244🇦🇺 Australia$191,453
#2🇦🇺 Australia$411,060🇨🇭 Switzerland$183,339
#3🇺🇸 United States$403,974🇧🇪 Belgium$163,429
#4🇧🇪 Belgium$313,045🇳🇱 Netherlands$114,935
#5🇳🇴 Norway$291,103🇫🇷 France$106,827
#6🇳🇿 New Zealand$289,798🇨🇦 Canada$106,342
#7🇨🇦 Canada$288,263🇯🇵 Japan$103,861
#8🇩🇰 Denmark$286,712🇳🇿 New Zealand$98,613
#9🇸🇬 Singapore$283,118🇬🇧 United Kingdom$97,169
#10🇫🇷 France$280,580🇸🇬 Singapore$91,656
#11🇬🇧 United Kingdom$279,048🇪🇸 Spain$87,188
#12🇳🇱 Netherlands$253,205🇳🇴 Norway$80,054
#13🇸🇪 Sweden$249,765🇮🇹 Italy$79,239
#14🇭🇰 Hong Kong$244,672🇹🇼 Taiwan$78,177
#15🇮🇪 Ireland$232,952🇮🇪 Ireland$72,473
#16🇦🇹 Austria$231,368🇦🇹 Austria$70,074
#17🇯🇵 Japan$227,235🇰🇷 South Korea$65,463
#18🇮🇹 Italy$217,727🇺🇸 United States$61,667
#19🇩🇪 Germany$214,893🇩🇰 Denmark$60,999
#20🇹🇼 Taiwan$212,375🇭🇰 Hong Kong$58,905

The United States boasts 41% of the world’s millionaires, but it’s clear that the fruits of labor are enjoyed by only a select group—average wealth ($403,974) is almost seven times higher than median wealth ($61,667). This growing inequality gap knocks the country down to 18th place for median wealth.

The Nordic countries of Norway and Denmark can be found in the top ten for average wealth, but they drop to 12th place ($80,054) and 19th place ($60,999) respectively for median wealth. Despite this difference, these countries also provide a strong safety net—including access to healthcare and education—to more vulnerable citizens.

Finally, wealth in Japan is fairly evenly distributed among its large middle class, which lands it in seventh place on the median wealth list at $103,861. One possible reason is that the pay gap ratio between Japanese CEOs and the average worker is much lower than other developed nations.

With reducing income inequality as a priority for many countries around the world, how might this list change in coming years?

Footnote: All data estimates are using mid-2018 values, and reflected in US$.

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How Debt-to-GDP Ratios Have Changed Since 2000

See how much the debt-to-GDP ratios of advanced economies have grown (or shrank) since the year 2000.

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How Debt-to-GDP Ratios Have Changed Since 2000

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Government debt levels have grown in most parts of the world since the 2008 financial crisis, and even more so after the COVID-19 pandemic.

To gain perspective on this long-term trend, we’ve visualized the debt-to-GDP ratios of advanced economies, as of 2000 and 2024 (estimated). All figures were sourced from the IMF’s World Economic Outlook.

Data and Highlights

The data we used to create this graphic is listed in the table below. “Government gross debt” consists of all liabilities that require payment(s) of interest and/or principal in the future.

Country2000 (%)2024 (%)Change (pp)
🇯🇵 Japan135.6251.9+116.3
🇸🇬 Singapore82.3168.3+86.0
🇺🇸 United States55.6126.9+71.3
🇬🇧 United Kingdom36.6105.9+69.3
🇬🇷 Greece104.9160.2+55.3
🇫🇷 France58.9110.5+51.6
🇵🇹 Portugal54.2104.0+49.8
🇪🇸 Spain57.8104.7+46.9
🇸🇮 Slovenia25.966.5+40.6
🇫🇮 Finland42.476.5+34.1
🇭🇷 Croatia35.461.8+26.4
🇨🇦 Canada80.4103.3+22.9
🇨🇾 Cyprus56.070.9+14.9
🇦🇹 Austria65.774.0+8.3
🇸🇰 Slovak Republic50.556.5+6.0
🇩🇪 Germany59.364.0+4.7
🇧🇪 Belgium109.6106.8-2.8
🇮🇱 Israel77.456.8-20.6
🇮🇸 Iceland75.854.6-21.2

The debt-to-GDP ratio indicates how much a country owes compared to the size of its economy, reflecting its ability to manage and repay debts. Percentage point (pp) changes shown above indicate the increase or decrease of these ratios.

Countries with the Biggest Increases

Japan (+116 pp), Singapore (+86 pp), and the U.S. (+71 pp) have grown their debt as a percentage of GDP the most since the year 2000.

All three of these countries have stable, well-developed economies, so it’s unlikely that any of them will default on their growing debts. With that said, higher government debt leads to increased interest payments, which in turn can diminish available funds for future government budgets.

This is a rising issue in the U.S., where annual interest payments on the national debt have surpassed $1 trillion for the first time ever.

Only 3 Countries Saw Declines

Among this list of advanced economies, Belgium (-2.8 pp), Iceland (-21.2 pp), and Israel (-20.6 pp) were the only countries that decreased their debt-to-GDP ratio since the year 2000.

According to Fitch Ratings, Iceland’s debt ratio has decreased due to strong GDP growth and the use of its cash deposits to pay down upcoming maturities.

See More Debt Graphics from Visual Capitalist

Curious to see which countries have the most government debt in dollars? Check out this graphic that breaks down $97 trillion in debt as of 2023.

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Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

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