The financial assets of Spanish households grew by 9.6% in 2025, reaching €3.4 trillion, according to the 17th edition of the Global Wealth Report by Allianz Research, which analyses the assets and debts of households in nearly 60 countries. The growth recorded in Spain more than doubles that of Western Europe (4.5%) and is also above the global increase (8.6%).
The advance was particularly significant in securities, which increased by 15.5%, compared to 4.7% for deposits and 3.9% for insurance and pensions. As a result, securities now represent 50.2% of the financial assets of Spanish households, above both Western Europe (36.8%) and the global average (46.9%).
Also in real terms, Spain shows a differential evolution. Discounting the effect of inflation, the financial assets of Spanish households increased by 6.7% in 2025 and have accumulated a growth of 12.5% since 2019, compared to just 0.5% in Western Europe.
More savings and €2.6 trillion of net financial wealth
New contributions to savings by Spanish households increased by 2.2%, reaching €92.9 billion. Deposits accounted for 52.1% of this new savings, while securities represented 35.5% and insurance and pensions 9.5%.
Within the investment in securities, the role of investment funds stands out, which accounted for practically all of the new contributions to this category, with €49.1 billion.
For its part, household debt increased by 4.6%, reaching €796.6 billion, a rate lower than the growth of assets. As a consequence, net financial assets advanced by 11.1%, reaching €2.6 trillion.
With a net financial wealth of €55,300 per capita, Spain ranked 20th among the richest countries in the world in 2025.
Global wealth reaches a new high
Spain's strong performance occurs in a year in which the financial wealth of households again reached global highs. Global financial assets increased by 8.6% in 2025, reaching a record €268.4 trillion, despite a challenging economic and geopolitical context.
However, the growth came primarily from market developments and not from new savings contributions. The rise in asset prices generated approximately four out of every five euros of new wealth, while new savings fell by 5.4%, to €4.1 trillion.
"Global wealth reached another record in 2025, but that is only half the story," says Ludovic Subran, chief economist and director of Investments at Allianz. "Since 2019, nominal financial assets have grown by 50%, but in real terms, discounting inflation, they have only grown by 23%. The situation is worse in Western Europe, where financial assets in real terms have risen by 0.5% since 2019. It is 21% in North America and 70% in China."