Bulgarians have Greater Financial Assets than Russians, Romanians and Turks

Bulgarians have greater financial assets than Slovaks, Russians, Romanians, Turks and Serbs. Regarding the net financial assets per capita, our country ranks 38th out of 53 countries worldwide with a result of 7680 euro per person. For the gross amount, Bulgaria is down one position with a result of 9760 euros, the latest edition of the Allianz Global Wealth Report shows.

It includes data for 2017 for the total amount of financial assets by country, net, financial assets per capita, and others. This includes three categories of such assets - deposits, securities, insurance, and pensions in private parties plus others.

"There is a close link between financial assets and household incomes, and the trend is that often lower-income individuals have no financial assets or are very small in value." Only when people are in the middle and high income groups these type of asset become relevant, "Allianz explains in the document. According to estimates, from 2000 to 2017 total financial assets in Bulgaria have increased almost 10 times from 7 billion euros to 69 billion euros by the end of last year.

However, our country remains behind many other countries in the region, such as the Czech Republic, Hungary, Poland, Slovakia, Russia and Turkey. In Romania, for example, the amount of total financial assets is nearly twice as high as in Bulgaria with a value of 129 billion euros.

The net financial assets in Bulgaria for the year 2017 amount to 54 billion euros, which puts ahead of Croatia, Estonia, Latvia, Slovakia, Slovenia, Serbia and Ukraine. Financial assets per capita in Bulgaria show a significant growth since 2000 from 880 to 9760 euros, which is 11 times higher at the end of last year. Net financial assets per capita are 7680 euros, which places our country 9th out of 16 in the region.

The countries that follow us are Romania, Russia, Serbia and Ukraine, where this amount is equivalent to 4520 euros, 4590 euros, 880 euros and 2040 euros.

First is Switzerland with average net financial assets per capita EUR 173 990, followed by the United States and Sweden. Interestingly, countries in Europe like the Netherlands and Belgium are well ahead of Europe's No. 1 economy. They are ranked in the top 5, while Germany is only 18th. At the bottom of the list are Ukraine, Indonesia, Kazakhstan, Serbia, India and Argentina.