By Shruti Advani, Guest Contributor finews.asia

Despite dedicating itself to becoming the world’s hub for private banking services, Switzerland still benefitted from non-financial assets gaining in value, according to Credit Suisse's global wealth report.

Most regions of the world did too, except for North America where capital markets rallied to their highest levels. Nonetheless, financial assets continue to account for 56 percent of gross wealth in the country.

Good Times Over?

However, per capita income in Switzerland was down 3.8 percent from the same time last year. This, despite global wealth growing by $14 trillion or 4.6 percent to $317 trillion over the same period.

Forty percent of this wealth increment was attributable to the U.S., where the middle classes were growing contributors to the economy. In addition, wealth inequality in the country is no longer rising.

Swiss-Based Super Wealthy

Switzerland, by contrast, has not had any significant reduction in wealth inequality since the turn of the century. A combination of high average wealth and relatively high wealth inequality, results in a large proportion of the Swiss population being amongst the richest people in the world.

The country accounts for 1.8 percent of the top 1 percent of the world’s wealthy – remarkable for a country with just 0.1 percent of the world’s population. Over 60 percent of Swiss adults have assets over $100 000, and over 11 percent are dollar millionaires.

An estimated 2,650 Swiss are ultra-high net worth individuals, with over $50 million. Roughly 980 have an estimated wealth of $100 million or more.