Measured in local currency, the wealth of citizens in Hungary increased the most in Europe last year, followed by Lithuania and Sweden. In Romania, the median wealth increased by 9.1%, but the long-term average wealth trend decreased, according to a recent report by the multinational investment bank UBS, cited by Euronews.
Net wealth per citizen varies significantly across Europe, and this figure changes every year, being measurable only when adjusted for inflation. The resulting real wealth per adult increased in the vast majority of European countries between 2023 and 2024 and decreased only in a few, according to the UBS Global Wealth 2025 report.
Median wealth per adult increased the most in Hungary between 2023 and 2024, by 18.6%. The increase reached or exceeded 15% in several other countries as well, including Lithuania (16.9%), Sweden (15.3%), Italy (15%), and Latvia (15%). In Romania, the increase was 9.1%.
According to the report, among EU member states, candidate countries, members of the European Free Trade Association, and the United Kingdom, only Turkey and Belgium recorded a decrease in median wealth per adult.
Among the five largest economies in Europe, Italy had the highest real increase in wealth per adult, at 15%, while the United Kingdom had the lowest, at 5.3%. France (10.3%), Germany (9.5%), and Spain (9%) were in the middle. Outside of Europe, South Korea (13.9%), Australia (10.7%), Canada (9.6%), and Japan (8.6%) recorded significant growth in 2024. In the US, the increase was 2.3%.
In contrast, China and Russia recorded significant declines of 6.3% and 8.2%, respectively.
When the average wealth change is taken into consideration instead of the median, several European countries also recorded decreases. Among them are Turkey, Belgium, Luxembourg, Estonia, France, and the United Kingdom. Austria stands out, with median wealth per adult decreasing by 18%. This is followed by the Netherlands (-2.3%) and Estonia (-0.1%). In Europe, Cyprus had the highest increase (43.9%), followed by Denmark, Latvia, and Lithuania, all with increases over 30%. Romania had an increase of 4.8%, and Hungary of 13.2%.
In terms of long-term average wealth trends, the situation changes completely: wealth per adult decreased in many countries. Significant declines occurred in Austria (-11.3%), Estonia (-10.6%), Italy (-9.4%), and Ireland (-7.8%). Romania recorded a decrease of 4.7%. In Hungary’s case, the decrease was 0.3%.
“The decline in real average wealth per adult during this period was mainly due to high inflation,” the report states.
(Photo source: Oleg Dudko | Dreamstime.com)
Leave a Reply