Wealth or illusion? South Tyrol's wealth and the big gap between rich and poor

Wealth or illusion? South Tyrol's wealth and the big gap between rich and poor

With an impressive net worth of 353,000 euros per capita, South Tyrol has the highest average net worth in Italy. This is according to a recent report from the Banca d’Italia, which analyzes the region’s property values ​​and finds that they are above the national average. However, these figures do not reflect the everyday feeling of prosperity, as AFI President Stefano Mellarini emphasizes. High wealth does not necessarily guarantee a better life for everyone.

While the total wealth of South Tyrolean households amounted to 189 billion euros at the end of 2023, the per capita wealth is almost twice as high as the Italian average of 191,000 euros. Real estate and financial assets amount to 204 billion euros, less liabilities of 15 billion euros. The statistics also show that total wealth in the region has increased by 33% over the last decade, compared to inflation of 27%.

Inequality in wealth

Despite these high wealth figures, an overwhelming majority of South Tyrolean employees recognize the significant differences between rich and poor. A survey shows that 78% of respondents perceive this gap as clear. 58% rate it as “large” and 20% even as “very large”. The causes of this inequality are diverse and are particularly located in wage policy (25%) and economic policy (24%). Factors such as work performance, the tax system and education also play a crucial role.

Those surveyed see hard work (average 7.9) and education (7.5) as essential means of improving the economic situation. The value of a social network, gender, happiness and family support are also cited as significant influencing factors. These opinions reflect that high net worth does not equate to broad economic security for the population.

Cost of living puts wealth into perspective

High housing costs and living costs in South Tyrol contribute to putting the region's economic performance into perspective. Even if the statistics paint a prosperous picture of South Tyrol, the reality remains a challenge for many residents. Given these circumstances, citizens are demanding better understanding and ways to reduce inequality.

Overall, it can be said that the economic data is impressive, but does not provide the full picture of the quality of life and social challenges in South Tyrol. The report from daily newspaper.it sheds important light on the complex relationships between wealth and social justice and is supported by additional information from apnews.com that address general global economic uncertainty and provide context for domestic challenges.