Friday 24 June 2011

Asia has more millionaires than Europe


The number of millionaires in Asia-Pacific has jumped sharply to overtake Europe, a study revealed yesterday, driven by the fast-rising super-rich of Hong Kong.


watch now




















Millionaires in the region -- who have a total of almost $11 trillion -- became worth more collectively than their counterparts in Europe in 2009, but there are also now more of them, at 3.3 million, versus 3.1 million in Europe.
The report on high-net worth individuals (HNWIs) -- defined as anyone with investable assets of at least $1 million -- was issued by Merrill Lynch Global Wealth Management and consultancy firm Capgemini.

Asia is now second only to North America, which has 3.4 million millionaires.
The number of millionaires in Hong Kong grew 33.3 percent in 2010 to 101,300, compared with 76,000 in 2009 -- the second straight year in which the city's super-rich population grew the most.
The rocketing number of millionaires in the southern Chinese city was due to a healthy economy as well as gains in the equities and real estate markets, said the report.
It also noted the fast growth of Indian millionaires, where the HNWI population became the world's 12th largest in 2010, its highest placing.

0 comments:

Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More