Over the past two decades Peru experienced an economic boom with impressive GDP growth rates, increases in average income and wealth as well as improvements in the overall infrastructure.
But unfortunately not all Peruvians benefited from this positive development. Even though the country could reduce its poverty rate drastically over this time, today over a fifth of the population still lives in poverty, 3.8% even in extreme poverty. On the other hand an increasing number of Peruvians is rich and extreme rich accumulating for most Peruvians incomprehensible wealth as the Global Wealth Report 2018 published by the Credit Suisse Research Institute's indicates.
The Global Wealth Report – 2018 in its 9th edition - is the most comprehensive and up-to-date source of global household wealth information. It analyzes wealth held by 5.0 billion adults across the globe, from the least affluent to the wealthiest individuals. During the twelve months to mid-2018, aggregate global wealth rose by US$14.0 trillion (+4.6%) to a combined total of US$317 trillion, outpacing population growth. Wealth per adult on a global level grew by 3.2%, raising global mean wealth to a record high of US$63,100 per adult.
With a total wealth of US$ 467bn (up 6.7% from 2017), Peru today holds a 0.1% share of the world’s wealth. Despite its nearly stagnating 21.7% poverty rate, a huge lower middle class and a minimum wage of S/ 930 (about US$ 280) per month, the mean wealth per adult grew 4.8% during the last year to US$ 22,508. The median wealth in Peru per adult rose to US$ 6,036, the financial wealth per adult to US$ 4,764 and the non-financial wealth per adult to US$ 19,956; debt is at US$ 2,212 per adult.
Today Peru is the number 5 in Latin America after Brazil, Mexico, Chile and Colombia with the most millionaires.
- 33,000 adult Peruvians have a wealth of over US$ 1 million
- 28,530 adult Peruvians have a wealth of 1 to 5 million
- 2,687 adult Peruvians have a wealth of 5 to10 million
- 1,750 adult Peruvians have a wealth of 10 to 50 million
- 165 adult Peruvians have a wealth of 50 to 100 million
- 107 adult Peruvians have a wealth of 100 to 500 million
- 18 adult Peruvians have a wealth of 500+ million
In this context our article "31 families in Peru own 13% of the country’s financial wealth" might be an interesting read.