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New Zealand’s world-beating jump in wealth down to ‘rise of landed gentry’, says economist

Sumon Azam

21 Sep, 2022

Warning of increasing inequality as global wealth report shows average wealth per adult in NZ jumped US$114,000 in 2020

New Zealanders have topped the world for the biggest annual jump in wealth, however one prominent economist warned the figures were further evidence of growing inequality in a country that is experiencing “a rise of the landed gentry”.

The global wealth report by investment bank Credit Suisse shows New Zealand experienced the biggest spike in average wealth per adult, ballooning by US$114,000 (NZ$193,248) in 2020 to bring the total average wealth per adult to US$472,153 in 2021 – a 32% year-on-year increase.

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