Israel Ranks 18th in Global Wealth Report, Sees Significant Wealth Growth

By Aryeh Stern

Dollars and Israeli shekels. (Hadar Youavian/FLASH90)

Israel was ranked 18th in the UBS Global Wealth Report, with an average wealth of $260,000 per adult in 2023, up 14% from 2022, significantly above the global average growth of 4.2%. However, the Swiss bank noted that the growth of median wealth in Israel was much weaker, indicating slower wealth growth in lower socioeconomic clusters and increasing economic inequality.

In contrast, over the longer term, Israel has experienced a positive trend. Since the 2008 financial crisis, wealth inequality in Israel has narrowed by 12%, suggesting that growth over the past 15 years has been inclusive, benefiting both weaker and stronger strata. During this period, the average wealth in shekels increased by 142%, and the median wealth grew by an impressive 220%.

Currently, Israel boasts 180,000 millionaires in US dollar terms, meaning their assets minus debt are worth more than $1 million. Additionally, over 2.5 million Israelis possess wealth between $100,000 and $1 million.

According to the UBS report, Switzerland holds the highest wealth per adult globally, with an average of $709,000. Luxembourg, Hong Kong, and the US follow. Israel, in 18th place with an average of $260,000 per adult (up from 19th place in 2022), ranks just below Germany and above Austria. Israel leads the Middle East in wealth, ahead of Qatar, which ranks 20th with an average of $199,000 per person.

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