Wealth Exodus: Australians Flock to Property Investment Over Business
The proportion of working-age Australians who run a business which employs people fell from 13.8 percent in 2002 to just 9.8 percent in 2022, according to CEDA.
TL;DR
- Fewer Australians are investing capital in businesses.
- The drop in business investment is most pronounced among the wealthy.
- More wealth is flowing into property.
- The proportion of working-age Australians running employing businesses fell from 13.8% in 2002 to 9.8% in 2022.
- Ownership of at least one investment property increased by 8.1 percentage points over the same period.
- Among the wealthiest 20% of households, wealth tied to business fell from 11% in 2002 to 4.4% in 2022.