The Swiss multinational investment bank and financial services, Credit Swisse has released its Global Wealth Report for the current year. It reveals that three quarters of adult Moroccans have less than $10 000 in household wealth.

The 10th edition of the Global Wealth Report 2019 reveals that on the global level, wealth grew “at a very modest pace” in the current year, and that 1% of the population owns 44% of the global wealth, while more than half have a net worth below 10 000. This discrepancy could have been wider had the trend toward increasing inequality continued to grow like the previous year.

As far as Morocco is concerned, the report unveils that 75.5 percent of Moroccans have a net worth of less than $10 000. This is calculated by outcome of “the value of financial assets plus real assets (principally housing) owned by households, minus their debts”.

In addition, the report shows that 23.1 percent of Moroccan adults have a net worth of between $ 10 000 and $ 100 000, and 1.3 percent have between $ 100 000 and a $ million. The Moroccans who own more than one $ million occupy a small percentage, represented in 0.1 percent. The average household wealth of Moroccans is $12 929.

On a global note, the number of millionaires estimated for the current year is 46.8 million worldwide, most of them in the United States. However, China and a number of developing countries have greatly contributed to the the global wealth growth.

As for the average of wealth per adult, Switzerland ranks first globally with more than $17,790, then by the US ($11,980), then Japan ($9,180) and the Netherlands ($9,160).