A strong economy does not necessarily mean more satisfied citizens

The global wealth map may appear clear when looking at the big numbers, but behind each figure lies a different story. The country topping lists for gross domestic product or average wealth is not necessarily where citizens feel the most prosperous.

As billions accumulate in the accounts of certain individuals and companies, a more complex question arises: Is economic strength measured by the wealth of the rich, or by the daily lives of ordinary citizens?

The Global Wealth Report issued by UBS reveals that global wealth continued to rise in 2025. For every $10 the world owned at the beginning of the year, more than a dollar was added by its end. Average wealth also surpassed half a million dollars in seven countries worldwide.

However, experts warn that the average can present a misleading picture, as it is heavily influenced by the wealth of the highest-income groups, which may inflate the total figure even though the majority of the population does not necessarily share in these gains.

For this reason, the median wealth index—used to express the wealth of individuals in the middle of the economic pyramid—is considered a more accurate reflection of societal reality. It measures the financial status of the individual at the midpoint of the wealth distribution, rather than just the average of everyone.

According to the report, the United States ranked second globally in terms of average wealth but dropped to 28th place when measuring median wealth. In contrast, Belgium rose from 11th in average wealth to second in median wealth, while Italy moved from 23rd to 11th.

These results come amid growing debate over comparisons between major economies, particularly following discussions on whether Europe has become “poorer” compared to the United States, based on the GDP per capita index, which is also an average that may not reflect the living reality of all populations.

Finland, for example, consistently ranks among the happiest countries in the world, despite its per capita wealth being approximately 60% lower than that of the United States. Meanwhile, in Spain, where this figure is more than 130% lower than in America, about two-thirds of residents consider their personal economic situation “good or very good,” according to recent polls.

These comparisons illustrate that the concept of wealth depends not only on the amount of money but also on the cost of living, the quality of public services, and citizens’ ability to meet their daily needs.

China presents another example of the differing concepts of economic well-being. While some living costs, such as fuel, may be higher than in the United States, public transportation, restaurants, entertainment, and university education are significantly less expensive.

While Chinese authorities are urging citizens to increase spending to support the economy, individuals remain the ultimate decision-makers regarding how they manage their money and their level of consumption.

At the same time, the rise of artificial intelligence is raising new questions about the future of wealth and work. Modern technologies have created massive investment opportunities, but they have also sparked concerns about job losses and the widening gap between beneficiaries and those adversely affected.

In this context, experts believe that a wave of potential job cuts due to AI could lead to social and political tensions if the economy fails to distribute the benefits of this technology more broadly.

The repercussions of artificial intelligence extend beyond the labor market, reaching the environment as well. Major technology companies have seen a surge in emissions due to the massive expansion of data centers required to power AI systems. Reports indicate that one company’s emissions are equivalent to those produced by approximately 19 million gasoline-powered cars.

Analysts argue that the greatest challenge lies not only in developing AI but also in ensuring its benefits reach broader segments of society, particularly since some of the primary beneficiaries of this technological revolution are themselves facing criticism for wealth concentration.

Meanwhile, trade wars continue to reshape the global economy, amid debates over whether protectionist policies deliver long-term gains. Economic analyses suggest that China has managed to strengthen its position in certain trade confrontations, while Europe faces mounting pressure to take more decisive steps to protect its industries, especially amid rising Chinese competition.

The complexity of this issue is further compounded by climate change. Europe increasingly relies on Chinese products, such as air conditioners, to cope with intensifying heatwaves—a dependency that partially contradicts its efforts to reduce reliance on Chinese imports.

This debate recalls Japan’s experience in the 1980s, when trade tensions with the United States led to agreements that had profound economic repercussions on the Japanese economy. Observers note that China does not appear ready to repeat that experience.

In other parts of the world, economic developments reflect significant shifts. Guyana has become the fastest-growing economy globally thanks to an oil boom, attracting waves of migrants seeking new opportunities, particularly from Cuba, which is grappling with an economic crisis.

Some investors continue to bet against the AI wave, arguing that current company valuations may be inflated. In another sector, the growing popularity of sports betting has generated substantial tax revenues for certain U.S. states, but it has also posed challenges related to addiction prevention programs.

Amid rising global temperatures, Europe is also seeking solutions to protect workers from recurring heatwaves, drawing on the experiences of regions accustomed to harsh climatic conditions.

Ultimately, these developments underscore that wealth is not a single figure that can be easily measured. A strong economy does not necessarily translate into greater citizen satisfaction, and rapid growth does not guarantee equitable distribution of gains. As technology, trade, and climate change redraw the contours of the global economy, the greatest challenge remains building a model that makes prosperity more inclusive, rather than merely recording record-breaking wealth figures.