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Friday, December 30, 2016

Most Filipinos Are Not Getting Richer

Most Filipinos are not getting richer - at least in dollar terms - according to the 2016 Credit Suisse Global Wealth Databook. Median Wealth per Adult peaked at $2,293 in 2012 and has gone down since to $2,055 in 2016, $2 smaller than what it was in 2011.

Mean Wealth per Adult Filipino peaked two years later at $10,042 in 2015 and has declined 1.63% to $9,878 as of 2016.

As a result, Median Wealth, as a percentage of Mean Wealth, has declined steadily from its peak of 27.42% in 2008 to 20.80% in 2016 - hovering slightly above 2002 levels.  This indicates rising income inequality.  In other words, the rich are getting richer but most Filipinos aren't.

Source: 2016 Credit Suisse Global Wealth Databook

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