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France<br />
Figure 1<br />
Wealth per adult over time<br />
USD 350'000<br />
USD 300'000<br />
Uncertain prospects<br />
USD 250'000<br />
USD 200'000<br />
USD 150'000<br />
In recent years, France has struggled with high unemployment,<br />
low growth and rising debt. Despite these challenges, it<br />
remains in ninth place in the world according to wealth per adult<br />
and in fifth place in terms of aggregate household wealth –<br />
behind the United Kingdom but ahead of Germany.<br />
Wealth per adult grew rapidly in France between 2000 and<br />
2007, almost trebling in USD terms. It then decreased by 9%<br />
in 2008. Recovery was slow, with the pre-crisis wealth peak<br />
not regained until 2013. Much of the pre-2007 rise was due to<br />
the appreciation of the euro against the US dollar and, to a<br />
certain extent, a rapid rise in house prices. However, the 19%<br />
fall in the euro-dollar exchange rate during the past year has<br />
sent average wealth back to levels not seen for almost a<br />
decade.<br />
Real estate still looms large in household wealth in France,<br />
with real assets currently accounting for 63% of household<br />
assets. Personal debts equal just 11% of assets.<br />
Europe overall accounts for 31% of the adults in the global top<br />
1% by wealth. France alone makes up almost one fifth of the<br />
European contribution. This reflects the high average net worth<br />
of French households, rather than unusually high wealth<br />
inequality.<br />
Relatively few adults in France are estimated to have<br />
wealth less than USD 10,000. The proportion with assets over<br />
USD 100,000 is over six times the global figure. There are<br />
more millionaires in France than in any other European country<br />
except the UK. However, residents of both Germany and the<br />
UK outnumber the French above USD 50 million or above USD<br />
100 million.<br />
USD 100'000<br />
USD 50'000<br />
USD 0<br />
2000 2002 2004 2006 2008 2010 2012 2014<br />
Wealth per adult<br />
Wealth per adult at constant exchange rate<br />
Figure 2<br />
Composition of wealth per adult<br />
USD 300'000<br />
USD 250'000<br />
USD 200'000<br />
USD 150'000<br />
USD 100'000<br />
USD 50'000<br />
USD 0<br />
-USD 50'000<br />
Financial Real Debts Net worth<br />
Figure 3<br />
Wealth distribution relative to world (in %)<br />
80<br />
Country summary 2015<br />
Population 64 million<br />
Adult population 48 million<br />
GDP 60,234 USD per adult<br />
Mean wealth 262,070 USD per adult<br />
Median wealth 86,156 USD per adult<br />
Total wealth 12.7 trillion USD<br />
Dollar millionaires 1,791 thousand<br />
Top 10% of global wealth holders 26,437 thousand<br />
Top 1% of global wealth holders 2,762 thousand<br />
Quality of wealth data good<br />
70<br />
60<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
16.9<br />
33.1<br />
USD 1m<br />
France<br />
World<br />
50 Global Wealth Report 2015<br />
Source: James Davies, Rodrigo Lluberas and Anthony Shorrocks, Credit Suisse Global<br />
Wealth Databook 2015
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