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Australia's Median Personal Wealth Level Surges To The Highest In The World


Credit Suisse's 2012 Global Wealth Report is out, and it reports show that Australia — land of outspoken billionaire Gina Rinehart and Titanic-building Clive Palmer — is very, very wealthy.

According to the report, the the country's wealth per adult in 2012 is UD$355,000, the second highest in the world after Switzerland. Even more surprisingly, the report states that the country's median wealth — US$194,000 —is now the highest in the world.

The value of the country's real assets per person is now second only to Norway.

This chart shows how rapidly Australia's economy grew between 2000 and 2011:

Credit Suisse Australia

While the graph does show that growth may be slowing, for the wealthy there's still a long way to go. The report predicts that in the next 5 years the number of millionaires in the Asia-Pacific region could grow by 70 percent.

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