Total net private wealth in Lebanon at $140.4bn at end-June 2018, 62nd highest worldwide

Economic Research | Lebanon This Week | Lebanon This Week 560 | Total net private wealth in Lebanon at $140.4bn at end-June 2018, 62nd highest worldwide | Lebanon | Byblos Bank

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Lebanon This Week 560

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Total net private wealth in Lebanon at $140.4bn at end-June 2018, 62nd highest worldwide

Global investment bank Credit Suisse estimated the aggregate net wealth of Lebanese citizens at a record high of $140.4bn at the end of June 2018, constituting an increase of 2% from $137.6bn a year earlier. Lebanon's total private net wealth stood at $103.2bn at the end of 2010, regressed to $95.2bn at end of 2011, and has been gradually rising ever since. The aggregate net wealth of Lebanese citizens at the end of June 2018 was the 62nd highest among 174 countries and jurisdictions, and the 11th highest among 19 Arab countries. It was also the 16th highest among 48 upper middle-income countries (UMICs) included in the survey.

Credit Suisse defines a country's net wealth as the sum of its population's marketable value of financial and non-financial assets less its aggregate personal debt, with non-financial assets consisting mainly of real estate holdings. It excludes a country's stock of human capital as well as its stock of public assets and liabilities, such as the public debt. The investment bank provided annual data for the period between 2000 and 2016, and semi-annual figures for 2017 and 2018.

The total net wealth in Lebanon included $86.1bn in financial wealth at the end of June 2018 that increased by 0.7% year-on-year, $96.2bn in non-financial wealth that grew by 6.9% from a year earlier, and $42bn in personal debt that rose by 10.8% from end-June 2017. American citizens had the world's highest aggregate net wealth at $98.2 trillion, while citizens of Saudi Arabia accumulated $977bn as at the end of June 2018, highest in the Arab world.

Further, net wealth per capita in Lebanon stood at $23,056 at the end of June 2018, up by 1.3% from $22,766 at end-June 2017, and compared to a peak of $23,801 at the end of 2010. Lebanon's net wealth per capita was the 54th highest globally, the fourth highest among UMICs and the eighth highest among Arab countries at the end of June 2018. Switzerland has the world's highest net wealth per capita at $424,382, while Qatar is the wealthiest Arab country on a per capita basis.
 
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