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Asian Millionaires Boom

By LIFS July 7, 2010 at 1:34 PM
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 Asian millionaires have overtaken their European counterparts for the first time.

 
According to a report by Merrill Lynch Wealth Management and Capgemini, the wealth of Asian high net individuals (those with assets of more than $1 million) grew 31% in 2009 to $9.7 trillion compared to $9.5 trillion in Europe. Both regions have nearly 3 million millionaires.

North America holds the top position with 3.1 million millionaires with a combined worth of $10.7 trillion. Millionaires in Latin American had $6.7 trillion in assets, the Middle East $1.5 trillion and Africa $1 trillion.

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Business | Magazine | July 2010

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