Global Wealth Report der Boston Consulting Group, 10.6.2021 (engl. Originalfassung)
Not even a pandemic could break global wealth’s resilience in 2020.
When the Boston Consulting Group issued their report last year, the pandemic had just plunged the world’s economy into its worst recession since World War II. Analysts expected global wealth to contract, and perhaps severely. Following the 2008 financial crisis, financial wealth declined by 8%, and the economic impacts of the pandemic looked to be every bit as punishing, if not worse.
Last year was anything but typical, however. Instead of shrinking, global financial wealth soared, rising 8.3% over the course of 2020 to reach an all-time high of $250 trillion. Behind the boom was a spike in net new savings and strong stock market performance fueled by highly supportive central banks. Cash and deposits grew by 10.6% over the previous year’s numbers, marking the largest annual increase in 20 years. Markets shrugged off early jitters and sent many indices and equities to record highs by the year’s end.
Flush with cash and encouraged by the prospect of robust returns, individuals directed more wealth into equities and investment funds and away from lower-yielding debt securities, continuing precrisis trends. Many also embraced alternative investments such as private equity, private debt, and real estate in the quest for even higher yields.
The next five years may be stronger still. We see signs of an emerging economic recovery that could significantly expand prosperity and wealth between now and 2025. This growth will create extraordinary opportunities for wealth managers, but it will require them to look at the market through a new set of lenses.
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