Croatia 31st on Latest Global Wealth Report

German insurance group Allianz have released the fifth edition of its Global Wealth Report, a report which analyses wealth and debt levels in over 50 nations. According to its latest assessment, gross financial resources in private households around the globe is on the rise, particularly in the middle class…

Allianz said on Tuesday that gross financial reserves in private households rose by 9.9 percent in 2013 year-on-year, the biggest annual increase since 2003. The report shows that gross financial reserves in private households in Croatia jumped last year by 5.4 percent, which was less than the average for the region, including nations not in the EU. Since 2007, the last year before the global economic crisis hit, gross financial reserves in private households had increased 19 percent, which again was lower than the region’s average of 33 percent. Assets in insurance and pension savings achieved the highest rate of growth rate in 2013 (12%). Most private household savings were still kept in bank deposits (58%) in Croatia, which was up 4% from last year.

Croatia was ranked in 31st place on the list of 50 nations, with an average net financial resource of 7,150 euros per person. The report says that people across the globe shared a record sum of 118 trillion euros in 2013, with the Germans owning 5.153 trillion euros last year of it, 4 percent more than they did in 2012.. Excellent developments on stock markets were seen as a driving force behind the global wealth increase. Whilst wealth increased in 2013, so did debt, with a 3.6% surge in private debt in the world.