Nowadays, most economists do not lose their optimism. They are not even scared by the news that the number of millionaires in Germany, contrary to the trend, is falling and currently amounts to 1.6 million. In general, if you believe the forecasts, everything indicates an economic recovery.
In global terms, this is true. This is due to the World Wealth Report report published in June by the IT company Capgemini. The company once a year conducts a study of global decomposition of assets and presents conclusions about how “high -assets people” manage their money and how the situation in this financial class develops. Despite the falling percentage of millionaires, the perspective is not bad: prosperity is growing all over the world.
In Germany, prospects are good for many. The demographic structure may in the future ensure the prosperity of many people: 84 percent all Capgemini respondents under the age of 59 are expecting to inherit money by 2040. This also applies to the Federal Republic of Germany. Analysts from France estimate that in the next 15 years 95 percent The whole property in the world can go into the hands of new owners.
Luxury articles instead of establishing companies
However, this is also associated with risk. The results of the study show that new millionaires will be radically different from the previous ones.
According to global research, people inheritors no longer plan to invest money in enterprise. Instead, many of them prefer to buy luxury items.
– Successive generations of high -assets people spend their income on luxurious goods and consumption – Capgemini analysts say. Travels, fashion, cosmetic products, jewelry and even high -percentage alcohols are particularly popular. – The main motivation is the investment attitude. It is assumed that these products will gain value in the future – we read in the report.
Do new rich in Germany perceive it in the same way? If so The consequences can be dramatic. According to economists, in order for the country to use millions of declines, completely different actions are necessary. – It is estimated that two -thirds of the net property of households in Germany have been developed – says Maximilian Stockhausen from the Institute of German Economy in Cologne.
It also means that maintaining prosperity depends largely on high activity on the labor market. According to the Institute of Research on Small and Medium Entrepreneurship in Bonn, the decisive factor of prosperity is especially establishing new enterprises.
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According to the 2024 report, they are conducive to economic competitiveness as well as growth in rural regions. OECD data (Organization of Economic Cooperation and Development) also confirm this view. According to them, new enterprises are responsible for 20 percent. all jobs in Germanywhile creating more than half of all new jobs.
Less new companies – and for years
The German Institute of Economic Research adds that about three quarters of all millionaires are currently also entrepreneurs, while according to other statistics, middle class assets are rather related to real estate for their own use.
Even if, according to Stockhausen, people with a greater decrease “certainly easier” is to set up their own business, the reality in Germany is the same: fewer new companies – and for years.
This applies to at least all new projects under the “full employment”, i.e. business activities conducted outside work part -time. According to the current monitoring of the KFW Bank regarding the establishment of enterprises, this number has been falling for over 20 years.
While in 2024 only 203,000 people founded a full -time enterprise or started operating on their own, 20 years ago this value was over 700 thousand.
The Berlin Institute of Economic Research (DIW) estimates that Most of the current millionaires in Germany are the elderly. So they gathered their fortunes at a time when establishing companies was much easier than today.
Insufficient financial education
For example, the weakness of the dollar, as well as a general, slight decrease in prices on the real estate market last year contribute to a decrease in the number of millionaires. In addition, the total value of the property remained stable, but is currently spread over a smaller number of people.
The procedure with declines in the future may play a key role for the economic development of a given region. Although, according to the economist Tobias Stockhausen, the inheritance and donations “do not play a dominant role in the accumulation of property for 99 percent of society”, in a short term they may contribute to reducing the concentration of property in Western industrialized countries.
However, the method of using the received property is decisive. According to Stockhausen, in the long run, the diverse consumer and savings behaviors lead to the re -concentration of property in the hands of a small number of households. To counteract this dynamics, you need “targeted activities to collect property”, for example in the form of better financial education.
In this respect, at least some optimism can be seen. The Banks Association still sees “significant deficiencies” among young people, but also “growing awareness” in financial issues. Perhaps this will also improve the prospects for establishing new companies. The KFW bank is already expecting “more positive impulses for establishing new companies” in Germany.
I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.
