Australia is Wealthy

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evlPanda
evlPanda
NSW
9207 posts
NSW, 9207 posts
2 Nov 2011 2:54pm
http://au.pfinance.yahoo.com/photos/photo/-/11232591/the-worlds-wealthiest-countries/11235962/

Australia
Total Population: 22 million
Adult Population: 16 million
Total Wealth: US$6.4 trillion
Average Person's Wealth: US$396,745 no.2 rank(total wealth divided by adult population)
Median Wealth: US$221,704 #no.1 rank (mid-point between the wealthiest and poorest adult)
Number of Millionaires: 1,079,000

From the Global Wealth Report 2011: Compared to the rest of the world, very few Australians have net worth less than USD$1,000. This reflects such factors as relatively low credit card and student loan debt. The proportion of those with wealth above USD$100,000 is the highest of any country - eight times the world average. With 1,861,000 people in the global top 1%, Australia accounts for 4.1% of the members of that wealthy group, despite having just 0.4% of the world's adult population.

A noticeable feature is the composition of wealth, which is heavily skewed towards real assets, which amount on average to USD$323,000 and form 65% of total household assets. In fact, the level of real assets per adult in Australia is now the second highest in the world, after Norway. In part, this reflects a sparsely populated country with a large endowment of land and natural resources, but it also is affected by high urban real estate prices.
cisco
cisco
QLD
12365 posts
QLD, 12365 posts
2 Nov 2011 3:57pm
I think taking the value of the family home out of the measurement would paint a very different picture.

Our residential real estate prices do seem over the top but that is what market forces are all about.

Interesting stat's though. Thanks for posting.

An expensive house doth not a millionaire make.
Mobydisc
Mobydisc
NSW
9029 posts
NSW, 9029 posts
2 Nov 2011 6:25pm
Australians comparative wealth is skewed towards the positive due to the general increase of the value of our dollar compared to most currencies.

Back when the Olympics were on in Sydney our dollar bought about 50 cents US. So an American on $40k a year had the purchasing power of a fairly high Australian income earner. We had American friends coming out and they found Australia cheap. Today those friends come out here and find everything expensive.

For us it's just the same then and now, expensive.

petermac33
petermac33
WA
6415 posts
WA, 6415 posts
2 Nov 2011 4:50pm
My total wealth if i sold up worth around 6k,

w/surf gear--4k

tv--$300,stereo--$500,computer--$150,fridge--$100,bed--$150

car 1k

if house price were to drop say 50%,as seems increasingly likely,then going to be many poorer than me.
lotofwind
lotofwind
NSW
6451 posts
NSW, 6451 posts
2 Nov 2011 7:52pm
Tin foil hat $2
petermac33
petermac33
WA
6415 posts
WA, 6415 posts
2 Nov 2011 4:53pm
my collection of 'truth' dvd's around $200.
SomeOtherGuy
SomeOtherGuy
NSW
807 posts
NSW, 807 posts
2 Nov 2011 8:20pm
...a day sailing on sunny Sydney Harbour, priceless.
doggie
doggie
WA
15849 posts
WA, 15849 posts
2 Nov 2011 5:20pm
lotofwind said...

Tin foil hat $2


Thats for two rolls tho, ya gotta be protected
SandS
SandS
VIC
5904 posts
VIC, 5904 posts
2 Nov 2011 8:24pm
Australia is Wealthy

but is it happy
BulldogPup
BulldogPup
6657 posts
6657 posts
2 Nov 2011 6:50pm
^^^^ good gagging god slainty ..... have you gone stark raving berserkers man????? ya puttin' me off me beer dude
slainte
slainte
QLD
2246 posts
QLD, 2246 posts
2 Nov 2011 8:59pm
Heads up pup, the more you drink...........................................................................................................................................................................................nah doesn't work
myusernam
myusernam
QLD
6159 posts
QLD, 6159 posts
2 Nov 2011 9:06pm
slainte said...

Heads up pup, the more you drink...........................................................................................................................................................................................nah doesn't work


if only it was that good slainte! I suspect the reality to be much worse though...especially the arse.
The NSW premier, now she was a spadger. what was her name? Bob carr?
BulldogPup
BulldogPup
6657 posts
6657 posts
2 Nov 2011 7:09pm
^^^^ bloody oath our Kristina Kenneally was ... was that her name ???? she was a bit of alright
SandS
SandS
VIC
5904 posts
VIC, 5904 posts
2 Nov 2011 10:28pm
yep KK for PM. good operator
slainte
slainte
QLD
2246 posts
QLD, 2246 posts
2 Nov 2011 11:33pm
Oh Laurie, wasn,t that bad
dinsdale
dinsdale
WA
1227 posts
WA, 1227 posts
2 Nov 2011 10:01pm
cisco said...
An expensive house doth not a millionaire make.

Too true!! My Dad's old war service home, in which he still resides, is valued at around $1.3million now, and he ain't rich.

I've heard, though I have no idea of the veracity, that if you're on he dole in Oz you're amongst the 6% richest people on Earth.

cisco
cisco
QLD
12365 posts
QLD, 12365 posts
3 Nov 2011 1:13am
SomeOtherGuy said...

...a day sailing on sunny Sydney Harbour, priceless.


One thing I can agree with you on there soggy.

cisco
cisco
QLD
12365 posts
QLD, 12365 posts
3 Nov 2011 1:28am
dinsdale said...

cisco said...
An expensive house doth not a millionaire make.

Too true!! My Dad's old war service home, in which he still resides, is valued at around $1.3million now, and he ain't rich.

Not unless he sold the house and moved to Bullamakanka, but who would want to live there?

He could probably buy the whole town for that sort of money.

I've heard, though I have no idea of the veracity, that if you're on he dole in Oz you're amongst the 6% richest people on Earth.

Ah. So that is why they are willing to risk their lives in leaky boats to get here.




Ados
Ados
WA
421 posts
WA, 421 posts
2 Nov 2011 11:32pm
SandS said...

Australia is Wealthy

but is it happy


Good question. There are a lot of things that make me happy and the pursuit of wealth for its own sake isn't one. I don't know about you, but the news is full of very rich people suing each other for more money. I find that informing.



Skid
Skid
QLD
1499 posts
QLD, 1499 posts
3 Nov 2011 1:33am
dinsdale said...

....I've heard, though I have no idea of the veracity, that if you're on he dole in Oz you're amongst the 6% richest people on Earth.




www.globalrichlist.com/

cisco
cisco
QLD
12365 posts
QLD, 12365 posts
3 Nov 2011 1:45am
Skid said...

dinsdale said...

....I've heard, though I have no idea of the veracity, that if you're on he dole in Oz you're amongst the 6% richest people on Earth.




www.globalrichlist.com/




Bit sceptical of that one. Asking you to donate in the second mouthful.

There is no doubt that the Australian continent has vast wealth but the general perception is that big chunks of it have been sold off at bargain basement prices to multinational interests.

I do believe the true wealth of this or any other nation lies in the character and culture of it's people and their productive capabilities.

I give thanks everyday for being born Australian.

Toots
Toots
WA
271 posts
WA, 271 posts
3 Nov 2011 12:56am
The more education I gain, the less I get paid.
evlPanda
evlPanda
NSW
9207 posts
NSW, 9207 posts
3 Nov 2011 10:47am
cisco said...
An expensive house doth not a millionaire make.


No, it doesn't. They never count primary place of residence when considering millionaires. All those millionaires, about a million of them, have it from other assets.

Also Australia is #2 on the International Human Development Indicator list
http://hdrstats.undp.org/en/countries/profiles/AUS.html

Which I think is even better

Anyone still feel like occupying a city?

Skid
Skid
QLD
1499 posts
QLD, 1499 posts
3 Nov 2011 1:20pm
cisco said...

Skid said...

dinsdale said...

....I've heard, though I have no idea of the veracity, that if you're on he dole in Oz you're amongst the 6% richest people on Earth.




www.globalrichlist.com/




Bit sceptical of that one. Asking you to donate in the second mouthful.

There is no doubt that the Australian continent has vast wealth but the general perception is that big chunks of it have been sold off at bargain basement prices to multinational interests.

I do believe the true wealth of this or any other nation lies in the character and culture of it's people and their productive capabilities.

I give thanks everyday for being born Australian.




Fair call Cisco, I pretty much agree on all counts
One thing missing from the 'global rich list' is how much it costs to live in different countries. No doubt in some countries people could live comfortably on what the average aussie pays in tax
cisco
cisco
QLD
12365 posts
QLD, 12365 posts
4 Nov 2011 1:12am
Skid said...
One thing missing from the 'global rich list' is how much it costs to live in different countries. No doubt in some countries people could live comfortably on what the average aussie pays in tax


We have quite a few Nepalese in Bundaberg who have been working for the Turks who have large tomato harvesting contracts.

I got to know a few of the Nepalese who told me that if they work here for one or two years, send most of their earnings home, they can live like kings in Nepal for 5 or so years.

We make fairly good money here in Aus but there are so many ways it gets taken from us in living costs etc that if there is anything left it is usually not enough to get you very far except for those young enough and lucky enough to be working at mines etc.

Not complaining. Just saying things could be better here.

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