Most High Net Worth Individuals from Asia-Pacific: Survey

June 21, 2012Marketsby EW News Desk Team

0

The number of high net worth individuals, or multi-millionaires, in Asia Pacific outnumbered those in North America for the first time last year, boosted by a sharp increase in wealth in China, Japan, Thailand, Malaysia and Indonesia.

The World Wealth Report published yesterday by Capgemini and RBC Wealth Management showed that the number of individuals in Asia-Pacific with at least $1 million in investable assets jumped 1.6 percent to 3.37 million in 2011, while the number of millionaires in North America declined by 1.1 percent to 3.35 million.

Despite the drop, North America remains the largest region for high net worth individual wealth at $11.4 trillion compared to $10.7 trillion in the Asia Pacific region.

Related Story: The 12 Fastest Growing Economies For 2012

Related Story: How the Luxury Market Defied the European Crisis

According to the report, the total global population of millionaires grew marginally by 0.8 percent to 11 million in 2011, but their collective wealth dropped by 1.7 percent to $42 trillion last year – the first decline since the start of the 2008/09 financial crisis.

The bulk of the world’s high net worth individual population remains concentrated in the United States, Japan and Germany. Together, the three countries accounted for 53.3 percent of the world’s high net worth individuals in 2011, up slightly from 53.1 percent in 2010.

Beyond the top three countries, there was little change in the geographical distribution of the world’s high net worth individuals, except that India and Hong Kong topped the list of countries losing high net worth individuals in 2011.

Equity-market capitalisation plunged in India in 2011, wiping out asset values and levels of investable wealth. India lost 18 percent of its wealthy population in 2011, and as a result lost its 12th place ranking to South Korea.

Of the top twelve countries by population, Brazil saw the greatest percentage rise (6.2 percent) in the number of high net worth individuals.

Related News: Brazil Overtakes A G20 Nation As Sixth Largest Economy. Which G20 Nation?

Related News: India Could Be Downgraded to ‘Junk’ Status: S&P

Related News: Foreign Investors Forsaking India for More Promising Emerging Markets

Related Story: The Broken BRIC – Why India’s Economy Is Underperforming: Raghuram Rajan

blog comments powered by Disqus