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Allianz Global Wealth Report 2026

A double-edged code – How AI is reshaping the global wealth landscape

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All chapters

Executive summary

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Financial assets: 2025 sets a fresh record

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Liabilities: Borrowing remains subdued

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Real estate: A hesitant recovery

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Distribution: New wealth, old divides

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Appendices

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Our team

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Price war for European airlines – Fasten your seatbelts

Cancelled flights could become the new normal in Europe as airlines strive to protect margins amid surging jet fuel prices. With wages accounting for 25% of revenue (vs. the global average of 19%), European airlines have little incentive to address staff shortages in the short term.

Breaking spread: fragmentation risk in the Eurozone

The ECB is facing a “risk trilemma” as its hawkish monetary policy pivot raises the specter of fragmentation risk, which threatens to impede the efficient transmission of monetary policy. 

Economic and Market Outlook: Running up the hill

Global growth is entering a soft patch this year as uncertainty due to geopolitical risks remains high. 

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