The global wealth gap widened during the Covid pandemic, increasing the number of millionaires in the world by 5.2 million.
The figures, detailed in Credit Suisse's annual Global Wealth Report, describe how governments' anti-Covid measures often benefited those who needed least state support, helping their assets grow in value despite the economic downturn. .
Millionaires now make up more than 1% of the global population, for the first time in history. Figures show that 56.1 million individuals had assets worth more than $ 1 million in 2020.
The wealth gap widened as those with lower profits suffered job losses and a drop in incomes due to the economic slowdown.
"The increase in wealth inequality was not caused by the pandemic itself, or by its direct economic impacts, but instead was a consequence of actions taken to mitigate the impact of the pandemic, mainly lower interest rates," they said. authors of the report.
Actions to offset the effects of the Covid-19 pandemic contributed to a significant increase in wealth inequality and led to the widest wealth gap since 2016.
The impact of the pandemic on family wealth, especially for the poorest, was worst in countries where governments failed to compensate for lost wages.
In total, global wealth grew by 7.4% in 2020, with gains mainly in the US, Europe and China, while total wealth in Latin America and India fell.
