Belgium is one of the world’s wealthiest nations, according to Swiss bank UBS’s 2023 Global Wealth Report, which analyses the distribution of wealth globally.
Belgium consistently ranks highly based on median wealth, the figure that half the population is above, and half is below, and this pattern has continued, the report notes.
Belgium’s median wealth amounted to $256,187 in 2023, surpassed only by Luxembourg ($372,258) and Australia with ($261,805). The data shows a slight dip as Belgium held the top spot in 2022.
Where average wealth is concerned, Belgium ranks 11th, with a wealth level of $362,408.
Belgium’s high ranking in the UBS’s wealth list is primarily due to its citizens’ real estate ownership and savings practices. The Swiss bank takes into account all financial assets, pension savings, and real estate (minus debts). Belgians often own their homes and are traditionally a society of savers.
Critics, including economists, have previously questioned the validity of considering Belgians among the world’s richest populations. They argue that such rankings do not take Belgium’s public debt into account.
However, the high median wealth underscores a more equal distribution of wealth in Belgium, in comparison with nations with a larger share of super-rich residents.
