Skip to main content
Tags:

Asia to Add 1.66 Mln Millionaires by 2015 - Report

Wednesday, 31 August 2011 06:46 AM EDT

HONG KONG, Aug 31 (Reuters) - Asia will add 1.66 million dollar-millionaires by 2015, taking the total number of wealthy to 2.82 million as the world's fastest-growing major economies of China and India continue to mint millionaires, a report from Julius Baer said on Wednesday.

The Swiss wealth manager forecast that the wealth of high networth individuals (HNIs), those with $1 million or more in investable assets, would nearly triple to $15.8 trillion in the five years to 2015.

China alone would be home to nearly half of the millionaires in Asia with combined wealth of $8.8 trillion. The world's most populous nation had 502,000 million HNIs with investable assets totaling $2.6 trillion, the report said.

India would more than double the number of HNIs to 403,000 by 2015, while Indonesia would see the highest growth rate in the number of wealthy, up by a quarter to 99,000, the first such report from Julius Baer said.

The wealth manager forecast that China and India would collectively contribute 40 percent to global growth for 2011 and 2012.

RANKS OF THE RICH BY 2015 Country No of HNIs (1,000) Wealth of HNIs ($bln) China 1378 8764 India 403 2465 Indonesia 99 487 Philippines 38 164 Thailand 128 609 South Korea 310 1074 Malaysia 68 329 Taiwan 136 593 Hong Kong 131 711 Singapore 129 616 Total 2820 15812 (Reporting by Nishant Kumar; Editing by Chris Lewis)

© 2024 Thomson/Reuters. All rights reserved.


Newsfront
HONG KONG, Aug 31 (Reuters) - Asia will add 1.66 million dollar-millionaires by 2015, taking the total number of wealthy to 2.82 million as the world's fastest-growing major economies of China and India continue to mint millionaires, a report from Julius Baer said on...
234
2011-46-31
Wednesday, 31 August 2011 06:46 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved