Switzerland Is the Richest Country in the World, Here’s Why

Swiss francs
Switzerland is the richest country on Earth. It also never accepted the Euro as its official currency.

According to a recent Global Wealth Report made by the Credit Suisse Research Institute, Switzerland is the richest country in the world. The small country harbors a reputation of housing the wealthiest, most influential individuals on the planet, but the average Swiss salary also exceeds the ones registered in other corners of the world.

Why Is Switzerland the Richest Country in the World?

In 2016, the world salaries have been registering a stagnation, the global uncertainty that defined this year taking its toll on the average earnings. However, the Swiss were not affected by the worldwide salary epidemics as their annual income saw a considerable increase in the past year, stabilizing the country’s position as the wealthiest nation on Earth.

For 15 years and counting, Switzerland has been occupying the first position, the gap between the country and the other contenders growing each year. The prosperity registered by its inhabitants is due to a multitude of factors, from its strategic European position to its internationally-recognized banking system, luxury resorts, quality signature timepieces, and, last but not least, its high-ranking authorities that have been investing in the wellbeing of the Swiss people.

What About the Other Countries?

According to the Credit Suisse Research Institute, the European country is the only one that managed to increase the level of wealth per adult. Sixteen years ago, in 2000, the United States was occupying the second position, registering an 11 percent difference from the top contender.

In 2007, the United Kingdom swept in and took over the second place, the gap between Switzerland and the United Kingdom was larger, the Swiss having a 16 percent advantage.

Now, Australia has dethroned the United Kingdom, but the hiatus between the two countries is a staggering 33 percent.

The Credit Suisse report details the factor that made it possible for the country to be 33 percent wealthier than the second-place contender.

It seems like the average wealth per individual has risen by 142 percent since the 2000 Credit Suisse report. By comparison, the global average wealth per person increased in the same period with only 67 percent.

Furthermore, the average Swiss employed individual has roughly $560,000 in his or her bank account, $360,000 more than the nation ranked on number 2.

Another significant difference is registered in the median wealth per person category. In Switzerland, the median wealth of a person (the study including the number of children in the country) is $244.000, while the United Kingdom ranks second with $107.900. The United States is on the fourth position with just $45.000.

Moreover, the wealthiest 10 percent of the country can buy out the wealthiest 10 percent of the nations that are ranking second and third, the gap getting larger each year.

The U.S. could learn a thing or two from the richest country in the world in terms of how to invest in people. However, Switzerland is considerablly smaller than any of the countries in the top 10 wealthiest countries in the world.

Image source: Pixabay

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