Fresh report: Hungarians see fastest wealth growth in Europe

Hungarian citizens experienced the highest net wealth growth in Europe between 2023 and 2024, measured in local currency, according to UBS’s 2025 Global Wealth Report. This places Hungary ahead of other emerging European economies, outpacing countries such as Lithuania, Sweden, and Italy.

18.6% median increase – a European record

Median wealth per adult in Hungary rose by 18.6% in just one year, according to Euronews. This marks the highest increase in Europe: Lithuania ranks second with 16.9%, followed by Sweden at 15.3%, and both Italy and Latvia at 15%. Median data offers a clearer picture of wealth growth, as it is less skewed by extreme (typically ultra-wealthy) outliers compared to averages.

While most European countries recorded growth, exceptions include Belgium and Turkey, where median wealth declined by 5.6% and 20.9% respectively—largely due to macroeconomic conditions and fluctuations in financial markets.

Striking contrasts among major economies

Among Europe’s five largest economies, Italy recorded the strongest increase at 15%, while the UK saw the lowest at 5.3%. France (10.3%), Germany (9.5%), and Spain (9%) ranked in between. Switzerland—Europe’s wealthiest country by average per capita wealth—saw a 7.7% rise in its median wealth.

The report highlights that rising prosperity has primarily benefited the middle class: in many countries, there is a noticeable gap between average and median growth. For instance, Switzerland’s median wealth rose by 14%, while its average actually declined—suggesting that gains emerged more rapidly among the broader population than among the wealthiest.

What’s behind Hungary’s surge?

The report does not specify the exact reasons behind Hungary’s exceptional growth, but several contributing factors can be inferred:

Growth in household savings and the emergence of new investment opportunities.
Wage increases in some sectors outpacing inflation, along with targeted government subsidies.
A favourable currency market for the Hungarian forint.

Hungarian forint inflation — Source: depositphotos.com

Bigger picture: Outlook and challenges

Despite these positive trends, serious regional and social disparities remain. In countries such as Turkey and Russia, household finances have significantly deteriorated—highlighting the vulnerability of personal wealth to global economic and political shifts.

Hungary’s record-breaking growth is not just a success story—it also serves as a cautionary tale: true and lasting convergence requires a stable economic environment and sustainable public and market policies.

The article is based on the UBS 2025 Global Wealth Report and related international coverage, including Euronews and The European Conservative.

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Featured image: depositphotos.com