Taiwan’s per capita private wealth third highest in Asia


CNA

TAIPEI–Taiwan’s financial assets per capita exceeded 50,000 euros in 2009, the third highest among Asian countries and the 18th highest among 50 countries from around the world, according to the 2010 Allianz Global Wealth Report.

With financial assets per capita of 51,332 euros, Taiwan was classified by the report as one of 21 high wealth countries out of the 50 surveyed, said the report released Monday.

Japan, ranked fifth in the world at 88,659 euros, and Singapore, ranked 10th in the world at 66,831 euros, were the only Asian countries among nine surveyed to have higher financial assets per capita than Taiwan.

The report on private household wealth, compiled by the Frankfurt, Germany-based Allianz Group, also found that Taiwan’s per capita financial assets grew by an average of 5.6 percent between 2001 and 2007, lower than the growth enjoyed by Asia’s emerging economies, such as China and India.

In 2008, however, when the financial assets of private households around Asia as a whole contracted by more than 4 percent, Taiwan also suffered negative growth.

Though experiencing a 5.1 percent rebound year-on-year in 2009, Taiwan’s financial assets per capita still had not fully recovered from the global financial crisis, remaining slightly below the 2007 level, the report said.