Credit Suisse: Albania’s total wealth at $21 billion

Tirana Times
By Tirana Times November 25, 2016 11:45

Credit Suisse: Albania’s total wealth at $21 billion

TIRANA, Nov. 22 – Albania has the third highest total wealth among the six EU aspirant Western Balkans countries, according to a report by Credit Suisse Research Institute.

The latest Global Wealth Databook shows Albania’s total wealth was estimated at $21 billion and the country’s wealth per adult at $9,204, more than treble compared to 16 years ago when the Albanian economy was still recovering from the collapse of the notorious pyramid investment schemes in 1997.

Albania’s total wealth is lower only compared to Serbia and Bosnia and Herzegovina among the six EU aspirant Western Balkans countries.

The report describes Albania as a 3.2 million people lower middle income country with poor wealth data quality.

The Swiss bank’s research arm says Albania’s GDP per adult rose to $6,169 in 2016 when the country numbered some 2.3 million adult people.

The study shows the ageing of the population due to lower birth rates and massive migration has also contributed to lower wealth per adult in the past eight crisis years.

The wealth per adult dropped to $9,204 in 2016 when the country had some 2.3 million adults compared to $12,073 in 2008 just before the onset of the global financial crisis when Albania had a younger population with some 2.07 million adults.

Tirana Times
By Tirana Times November 25, 2016 11:45