Editing Economy of Australia (section)

===Personal wealth===
[[File:Australia's GNI per capita in 2015.png|thumb|GNI per capita in 2015]]
According to the 2011 [[Credit Suisse]] Global Wealth report, Australia's wealth per adult had quadrupled over the past decade, and its total wealth was US$6.4&nbsp;trillion. In the report Australia was the second-wealthiest country in the world behind Switzerland based on average wealth per adult, and had the highest median wealth in the world (US$222,000, nearly four times the amount of each US adult) and a proportion of people with wealth above US$100,000 that was eight times the world average. This was attributed to a resilient Australian dollar, property ownership levels and a strong labour market. Compared to the rest of the world, very few Australians had a [[net worth]] of less than US$1,000, which was attributed to relatively low credit card and [[Student loan#Australia|student loan]] debt.<ref name="ninemsn-2011wealth">{{cite web|url=http://finance.ninemsn.com.au/newsbusiness/8362821/australia-wealthiest-nation-in-world-report|title=Australia wealthiest nation in world, according to a new report|website=9 Finance|publisher=[[Nine.com.au]]|date=20 October 2011|access-date=24 July 2012|url-status=dead|archive-url=https://web.archive.org/web/20120721013637/http://finance.ninemsn.com.au/newsbusiness/8362821/australia-wealthiest-nation-in-world-report|archive-date=21 July 2012}}</ref> In 2013, Australia was identified by the Credit Suisse as retaining its 2012 position as the nation with the second-highest average wealth per adult (US$403,000);<ref name="CreditSuisse2013">{{cite web|title=Global Wealth Reaches New All-Time High|url=http://www.thefinancialist.com/global-wealth-reaches-new-all-time-high/|work=The Financialist|publisher=[[Credit Suisse]]|access-date=10 October 2013|date=9 October 2013|archive-url=https://web.archive.org/web/20160729234134/https://www.thefinancialist.com/global-wealth-reaches-new-all-time-high/|archive-date=2016-07-29}}</ref> however, the nation's poverty rate was also reported to have increased from 10.2% in 2000–01 to 11.8% at the time of the 2013 report on global wealth.<ref name="aap-Oct2013">{{cite news|title=Richest nation but poverty increasing|url=http://www.theaustralian.com.au/news/latest-news/richest-nation-but-poverty-increasing/story-fn3dxiwe-1226738699752?from=public_rss&net_sub_uid=44933799|access-date=12 October 2013|newspaper=[[The Australian]]|date=12 October 2013|agency=[[Australian Associated Press]]}}</ref>

Despite the [[Great Recession|economic slowdown]], in the 2014 Credit Suisse Global Wealth Report, Australia continued to have the second-highest average wealth per adult (US$430,800) and the highest median wealth (US$225,400), with a total wealth of $7.2&nbsp;trillion. The average level of [[Asset#Tangible assets|real assets]] (US$319,700) was the second-highest in the world after Norway and 60% of gross household assets. The report explained that this partly reflects a large endowment of land and natural resources relative to population, and also high [[Urban area#Australia|urban]] real estate prices. Only 6% of Australians had a net worth below US$10,000, compared to 29% in the US and 70% for the world as a whole. The average debt was 20% of gross assets. The proportion of people with wealth above US$100,000 was the highest in the world (eight times the world average). Australia had 3.8% (1,783,000 people) of the top 1% of global wealth holders while having 0.4% of the world's adult population.<ref name="crSuisse-2014p57">{{cite web|author=Credit Suisse|author-link=Credit Suisse|title=Global Wealth Report 2014|url=http://economics.uwo.ca/people/davies_docs/credit-suisse-global-wealth-report-2014.pdf|publisher=[[University of Western Ontario]]|access-date=6 September 2017|page=57|date=1 October 2014}}</ref> The wealth share by Australia's top [[decile]] was 51.1% in 2000, 50.7% in 2007, and 51.1% in 2014.<ref name="crSuisse-2014p33">{{cite web|author=Credit Suisse|author-link=Credit Suisse|title=Global Wealth Report 2014|url=http://economics.uwo.ca/people/davies_docs/credit-suisse-global-wealth-report-2014.pdf|publisher=[[University of Western Ontario]]|access-date=6 September 2017|page=33|date=1 October 2014}}</ref> In 2016, Australia continued to be the second-wealthiest nation in terms of wealth per adult.<ref name="dfat-top20" />

In 2017, Australia was the world's top destination for millionaires, beating the United States for the second consecutive year. An estimated 11,000 millionaires moved to Australia in 2016, compared with the 10,000 who moved to the United States. Australia was especially attractive to Chinese millionaires due to its relative proximity, cleaner environment, political and economic stability, and [[#Chinese investment|investor visa programs]]. Also, the primary reason for millionaires leaving China is top schools abroad that will give their children a better education and career connections.<ref name="sbs2014-ChineseWealth">{{cite web|title=What you need to know about new Chinese wealth flowing into Australia|url=http://www.sbs.com.au/news/article/2014/02/18/what-you-need-know-about-new-chinese-wealth-flowing-australia|website=[[Special Broadcasting Service]]|access-date=9 August 2017|date=18 February 2014}}</ref><ref name="nyt2017-globalMillionaires">{{cite web|last=Frank|first=Robert|title=For Millionaire Immigrants, a Global Welcome Mat|url=https://www.nytimes.com/2017/02/25/your-money/wealth-immigration-millionaires-australia-canada.html|website=The New York Times|access-date=9 August 2017|date=25 February 2017}}</ref>