Belgium has emerged as the nation with the world's highest median wealth, as indicated by Credit Suisse's annual Global Wealth Report, as reported by De Tijd. The report further

notes a global contraction in private wealth, marking the first such decline since the financial crisis of 2008.

Released on Tuesday, the study delves into the household wealth of 5.4 billion individuals worldwide. It was produced by Credit Suisse Research Institute, the think tank affiliated with the bank.

The report employs two methodologies to rank nations in terms of affluence: average and median wealth. The former divides a nation's total wealth by its adult population, while the latter segments the population into two equal halves based on wealth, with the median value denoting the threshold between these two groups.

For the first time this year, Credit Suisse's analysis places Belgium at the pinnacle of the list, with a median wealth of $249,940 in 2022 (equivalent to €228,594 at the current exchange rate). Notably, this figure has experienced a minor decline of $7,860 from 2021. Belgium's ascendancy displaces Australia, which witnessed a steeper decline in median wealth, now securing the second position, followed by Hong Kong, New Zealand, and Denmark.

Considering average wealth, Belgium ranks 11th globally, boasting $352,810. Leading this metric is Switzerland with $685,230, while the top five also encompasses the United States, Hong Kong, Australia, and Denmark.