Since the epidemic, Italian households' net worth has increased significantly, thanks in part to the forced savings that happened during lockdown periods. This is according to the Bank of Italy's recent survey. Between the fourth quarter of 2019 and the second quarter of 2023, wealth increased by 12% in total, per capita, and per family. Median net wealth also increased, albeit less dramatically (less than 10%). However, wealth disparity, which increased significantly between 2010 and 2016, has not worsened overall. Social initiatives to protect the lowest people's wages have helped to keep wealth inequality from increasing much more. In 2020 and 2021, financial wealth expanded mostly through bank deposits, which accrued money that could not be spent. In recent years, this trend has slowed due to the loss of value of financial assets and the usage of deposits to support the post-Covid rebound of consumption, coping with inflation without renouncing specific types of expenditure, such as leisure. Similar dynamics may be found in the other big economies (Germany and France), which have passed on some of their excess reserves to nations with a comparative advantage in tourism (including Italy).
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