Thanks partly to our strong property markets and in part due to compulsory superannuation contributions, Credit Suisse found that Australians are easily the richest people in the world.
"The fifth annual study by the Swiss bank of global wealth trends found the median Australian adult was worth more than $US225,000 ($258,000) in June, well ahead of the second wealthiest population on this measure, the Belgians, at $US173,000. They were followed by the Italians, French and British, all at around $US110,000.
Property wealth plays a significant role in this, while the superannuation guarantee system for all its foibles showed remarkable foresight which other countries would do well to note.
Very, very few adults have net wealth of less than $10,000 in Australia when compared to other equivalent developed countries which is testament to the superannuation system.
The Credit Suisse report revealed a remarkable range of data set for the "Lucky Country", heading the Aussie chapter of the report simply "No worries".
Reports Business Day:
"Thanks to their houses, Australians are the richest people in the world, according to the investment bank Credit Suisse.