Bringing you live news and features since 2006 

European flags
European flags

Fortunes grow for ultra wealthy in core Europe despite tough economic conditions

RELATED TOPICS​

Despite challenging global economic conditions, the ultra wealthy in France, Italy, Germany and Switzerland (FIGS) are getting wealthier and growing in number.

 
These are the findings released by Wealth-X, the ultra high net worth (UHNW) business development solution for global private banks, luxury brands, educational institutions and non-profits.
 
The report also shows that the FIGS countries are home to more than 29,000 UHNW individuals, as of June 2013, with a combined wealth of nearly USS3.9trn. This is greater than the GDP of any of the world’s economies, except the US, China and Japan.
 
Six German cities make it to the list of the top 10 FIGS cities, suggesting the relative resilience of Germany’s economy despite difficult economic conditions. The country’s UHNW population (15,770 individuals) far exceeds even China (11,245 individuals) in 2012/2013, according to Wealth-X data.
 
Among the FIGS economies, Wealth-X data shows that Paris has the largest concentration of UHNW individuals in France, while Geneva has the highest density among the top 10 FIGS cities.
 
"The ultra wealthy in these countries continue to create more wealth and grow in number during these challenging times, testament to their smart investment strategies," says Mykolas Rambus, chief executive of Wealth-X. "This special report explores the changing demographics and growing wealth of the ultra affluent, invaluable for those in the financial services, philanthropy and luxury sectors."

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by