Croatians’ Personal Wealth Resilient to Corona Crisis – BCG Analysis

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ZAGREB, Sept 29, 2020 – Although acquiring wealth among Croatians has decelerated over the past five years, they are likely to overcome the crisis caused by the COVID-19 pandemic, and their personal wealth is forecast to rise 7%-8% until 2024, shows an analysis provided by Boston Consulting Group (BCG).

This is a higher growth rate than the rates in central and eastern Europe, Balkan countries and Russia on the aggregate and much faster than the global average.

The  BCG analysis shows that personal financial wealth in Croatia is rather equally distributed: most financial assets are in the hands of individuals who have less than USD 250,000. This consulting group has not noticed a big concentration of wealth in the segment of individuals with the assets with extremely high net value (above USD 100 million), which is not typical for central or eastern Europe or even at the global levels.

The segment of affluent individuals who possess more than a million dollars is also insufficiently developed.

BCG partner and executive director, Tomislav Corak, was quoted as saying that this segment could be expected to rise two times higher than segments with lower values.

Corak says that despite many crises, the increase in wealth at the global level and in Croatia has shown resilience and managed with the biggest challenges.

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