2024 Global Retail Investor Outlook 2025

ForewordGlobal capital markets have undergone a sustained fundamental shift, increasingly integrating individual investors into the financial ecosystem. This transformation has revolutionized how markets operate, establishing more accessible pathways for individuals to participate in spaces traditionally reserved for institutional and professional investors. The 2024 Global Retail Investor Outlook, conducted in collaboration with Robinhood Markets and Boston Consulting Group, surveyed 13,000 individuals across 13 global markets, including Australia, Brazil, China, France, Germany, India, Ireland, Japan, Singapore, South Africa, United Arab Emirates, UK and the US. This built upon The Future of Capital Markets: Democratization of Retail Investing paper published by the World Economic Forum in 2022, a survey across nine global markets to better understand the needs of retail investors. Following the “meme stock” phenomenon in 2021, this insight report sought to assess how well capital markets serve retail participants and how to promote resilient investing across the ecosystem. The findings from the 2022 survey revealed substantial gaps in education, access and trust, prompting calls to action for government, regulators and industry. Findings also demonstrated retail investor demand for enhanced access to financial advice, Dean Frankle Managing Director and Partner, Asset and Wealth Management, Boston Consulting Group Stephanie Guild Senior Director, Investment Strategy, Robinhood Markets Natalya Guseva Head, Financial Markets and Resilience Initiatives, World Economic Forum alternative investments and robust financial education. Since 2022, the World Economic Forum’s Global Retail Investing Initiative has conducted deep dives in these areas, with the findings of this report paving the path for deeper explorations of these topics. The financial landscape has continued to evolve since 2022. What was once a domain exclusive to professional and institutional investors has continued to evolve and become more democratized, allowing individuals across the wealth spectrum the opportunity to see their savings benefit from the broader prosperity of the economy. As changes in demographics, market conditions and technology continue to shift, the challenges and considerations for individuals are evolving; understanding individual investors’ behaviours, preferences and needs becomes more crucial than ever. This report represents the collaborative efforts of over 20 partner organizations, including experts from academia, policy-makers and the financial services ecosystem, to provide actionable insights for a more inclusive and sustainable financial future. We extend our gratitude to all who have contributed their expertise and shaped the insights presented in this report. Your collaboration has been instrumental in advancing the understanding and empowerment of retail investors worldwide. 2024 Global Retail Investor Outlook 3