Danes are experiencing a steady increase in their wealth, with new figures indicating a significant rise in their net worth despite global economic uncertainty.

The total net wealth of Danes has increased from DKK 7.367 trillion in 2023 to DKK 7.688 trillion in 2024, adjusted for inflation, according to a survey by pension company Velliv. This translates to an average increase of DKK 7,500 per adult Dane after tax in 2024.

Net wealth is comprised of equity in homes (home value minus debt), free funds, and pension savings after tax. While fortunes peaked in 2021, a downturn occurred in 2022 due to unfavorable financial markets. Since then, there has been a gradual recovery.

Consulting expert at Velliv, Jens Christian Nielsen, notes that the Danish economy is in a strong position, Danes are saving prudently, and are not incurring further debt.

The average net wealth for all adult Danes reached DKK 2.1 million by the end of 2024, a DKK 90,000 increase compared to the previous year. However, there are significant geographical disparities, with municipalities north of Copenhagen, as well as Dragør and Frederiksberg, leading the list. Gentofte, Rudersdal, and Hørsholm have the highest average wealth, while Høje-Taastrup, Albertslund, Brøndby, and Ishøj are at the bottom.

Chief analyst and private economist at Danske Bank, Louise Aggerstrøm Hansen, anticipates further growth in equity this year. However, she emphasizes the uncertainty surrounding the financial markets.

Growing fortunes are generally beneficial for the Danish economy, providing consumers with a sense of security and potentially supporting private consumption. However, Louise Aggerstrøm Hansen believes that calm regarding announcements from the White House and stable prices are necessary for a significant boost in consumption.