Bulgaria is no longer Europe’s poorest nation, according to the latest Global Wealth Report from Swiss bank UBS. The study shows that in terms of average wealth, Bulgaria has overtaken Romania and Turkey, while its median wealth places it ahead of some traditionally wealthier Eastern European countries, including the Czech Republic and Poland.

The report highlights a stark wealth divide across Europe. Net worth, or wealth, measures the total value of a household’s assets minus liabilities, including both financial and real assets such as property. Across 31 European countries, average wealth per adult in 2024 ranges dramatically, from €29,923 in Turkey to €634,584 in Switzerland. Within the European Union, the variation is smaller but still notable: Romania sits at €44,568, while Luxembourg tops the list with €523,591. Switzerland and Luxembourg are the only countries exceeding €500,000 in average adult wealth, followed by Denmark with €444,898.

Median wealth provides a more precise picture of wealth distribution, as average values can be skewed by a small number of ultra-wealthy individuals. In the EU, median wealth ranges from €22,257 in Poland to €365,244 in Luxembourg. Belgium, Denmark, Switzerland, and the United Kingdom also show median wealth above €100,000, reflecting a strong middle-range wealth segment in those countries. By contrast, median wealth in many Eastern European nations remains below €50,000, underscoring persistent regional inequalities.

For Bulgaria specifically, average wealth per adult stands at €47,798, placing the country ahead of Romania and Turkey but still below most Western European nations. In terms of median wealth, Bulgaria climbs higher in the rankings, surpassing the Czech Republic and Poland. This distinction shows that while extreme wealth in Western Europe drives up averages, Bulgaria’s wealth distribution is comparatively balanced within its own context.

The report also points to the significant gaps between countries. In Europe overall, the difference between the wealthiest and poorest countries exceeds 20 times for average wealth and remains more than 10 times within the EU. For median wealth, the disparity is even starker, with differences over 45 times across Europe and more than 15 times within the EU. These figures illustrate the enduring divide between Western and Northern Europe, which show higher wealth levels, and Eastern Europe, where wealth is considerably lower.

UBS emphasizes that inequality within countries, measured by metrics like the Gini coefficient, is a separate but related issue, showing how wealth is distributed among citizens rather than across nations. The report underscores that both average and median values are important for understanding overall wealth dynamics, and they often tell different stories about the prosperity of populations.