Why Australians are the Wealthiest People in the World
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Why Australians are the Wealthiest People in the World

Why Australians are the Wealthiest People in the World
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} A comprehensive wealth standards report prepared by global financial services major Credit Suisse in the year 2012 showed that Australians are now the wealthiest nationals in the entire world with a median wage per adult of $194000. Australia leads its nearest competitor Switzerland, which has a median adult wage limit of $US 87,000. The report also notes that Australia has a whopping 1.5 million in the exclusive list of the world’s wealthiest people. However in order to be included among the wealthiest in the world, a person needs assets equivalent to $710,000 and net assets of a minimum of $71000 dollars to be measured amongst the richest 10% of the global wealthy elite. Thanks to its sparse population and plentiful natural resources, Australia has the highest proportion of citizens having total income above 100000 US dollars, which is the highest for any country and eight times more than the world average. Although Australia lags behind the U.S.A which still has the highest number of millionaires with more 11 million of them, closely followed by Japan and itself (at approximately nine-hundred thousand), the report expects a total surge of 1.6 million millionaires in the next five years for the country. If proven true, the rise would be an overwhelming 82% increase from the present levels. The report also speculates that the overall global family wealth shall leap frog to almost 50 % from the current levels in the five years, with the U.S. again topping the list with total familial wealth estimations of US $89 trillion. China is also likely to gatecrash into the rich man’s league and contribute US$18 trillion to aggregate global wealth and go beyond Japan to become the second-richest nation in the world. This augurs well for Australia's growth prospects since China’s transformation from an industrial to consumer-driven economy will create abundant trading opportunities for Australia. Not only will China need Australia’s abundant natural resources, it shall also benefit from path-breaking services rendered by the Asia-Pacific giant in the field of education, health-services, food and technology. If only the forthcoming Australian governments play their cards well, they can help perpetuate the profitable enterprises of their citizens and corporations for many more years to come.
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