Financial wealth in Italy at USD 7 trillion

In 2024, the world's investable financial wealth took another leap forward. Smaller (4.4 %) than in previous years (5.3 % between 2021 and 2023) and almost exclusively due to the good performance of stock markets. Net assets (financial assets, real assets and liabilities) reached USD 512 trillion, thanks to financial assets, which rose to an all-time high of USD 305 trillion. Real assets were more stable (-0.4%), while liabilities increased slightly (+0.2%). Italy is eighth in the global ranking with financial wealth of around USD 6.9 trillion, down slightly by 1.1% compared to 2023, according to the Global Wealth Report 2025 by the Boston Consulting Group (Bcg).

Of Italy's approximately 7 trillion in wealth at the end of 2024, 40% was invested in equities and mutual funds, 25% in deposits and currencies, 18% in life insurance and pensions, and 8% in bonds. In comparison with the rest of Western countries, Italy is more exposed to equities and asset management products, with potential even growing looking ahead to 2029. Italy, according to Bcg, could exceed the expected levels of investment in equities and mutual funds in the rest of the world (42%) as that 40% in Italy could reach 43%.

The 2024 decline in financial wealth in Italy reflects a less favourable market environment than in other economies, but one that does not compromise the medium-term outlook: according to BCG, the financial assets of Italians are expected to reach USD 9,455 billion in 2029, with an average annual rate of 6.5%. Real assets have decreased by 4.1% since 2023 to USD 7.5 trillion, but are expected to grow by 4.1% annually to add USD 9.2 trillion in 2029. Liabilities decreased by 5.2% to USD 800 billion in 2024, with a projected growth of 2.9% over the next four years to USD 950 billion. "Italy has experienced a slight downturn but the trajectory in the coming years remains positive," emphasises Graziano Pace, Principal at Bcg. - Our country remains among the top ten countries in the world in terms of financial wealth, a result that testifies to its long-term capital strength. Looking ahead, the real difference will be the quality of growth, no longer just driven by the markets, but built on the quality of advice, use of data and trust'. The expert's suggestion is therefore to go back to rethinking organic growth in a structural manner, with wealth managers focusing on client acquisition, productivity and the engagement of new generations, anticipating the intergenerational transfer of wealth".

Italy is home to 517 thousand millionaires (financial wealth of one million dollars), less than 1% of the population, and 2600 super paperoni (UltraHigh Net Worth), individuals with financial wealth over 100 million dollars. 53% of the wealth belongs to the affluent and mass clients who have wealth up to one million. Over the next four years, the number of millionaires with assets between USD 1 and 100 million will grow by 1% and the number of individuals with assets over USD 100 million by 3%. In contrast, the number of affluents will remain stable and the number of mass clients will decrease by 5%.In 2024, investable financial wealth took another leap forward. Smaller than in previous years and due almost exclusively to the performance of stock markets. The growth of 4.4 per cent compares with an average of 5.3 per cent over the previous four years. Net worth - which includes financial assets, real assets and liabilities - reached USD 512,000 billion, thanks to financial assets, which rose to a new all-time high of USD 305,000 billion, driven by the stock markets. Real assets, on the other hand, were more stable (-0.4%), while liabilities recorded a slight increase (+0.2%). Italy ranks eighth in the global ranking with financial wealth of around USD 6,900 billion, down slightly by 1.1% compared to 2023. These are the main indications emerging from the latest edition of the Boston Consulting Group's "Global Wealth Report 2025.