Swiss bank Credit Suisse has praised Taiwan as the benchmark to beat among the four Asian Tigers in its latest Global Wealth Report.
According to the annual report, released on Tuesday, the average wealth for Taiwanese people has reached US$182,800, much higher than other developing economies and even comparable to some West European countries.
The report said from 2000 to 2010, the average wealth for Taiwanese people grew from US$107,000 to US$171,400 without faltering, even during the Great Financial Crisis in 2007 and 2008.
The Global Wealth Report also said more than 70% of adults worldwide have wealth below US$10,000. But only 20% of the adults in Taiwan have less than US$10,000. On the other hand, 40% of the adults in Taiwan have over US$100,000 in wealth. That’s 4 times higher than the world average of 9%.