In Italy, approximately 1.2 million people have a wealth exceeding one million dollars, which includes income, investments, and real estate. According to UBS (Union of Swiss Banks), Italian adults' average wealth has increased by 10% since the 2008 crisis, reaching $220,000 in 2023. However, the average figure reveals little about wealth distribution because it may conceal a small number of extremely wealthy people as well as a large number of impoverished individuals. Median wealth, on the other hand, a metric that accounts for extreme distortions, has fallen by 3% over the last 15 years, reaching $113k in 2023. "This divergence suggests that from 2008 onwards the lower asset brackets have suffered a decline in their wealth, contrary to the growth that occurred in the higher brackets", UBS notes.
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