The wealthiest countries in the world
The total number of millionaire households (in US dollar terms) has risen to 16.3 million in 2013, up from 13.7 million in 2012 – representing 1.1% of all households globally.
New research published by global management consulting firm, The Boston Consulting Group (BCG), found that global private wealth grew 14.6%, from $132.7 trillion in 2012, to $152 trillion in 2013.
The US boasts the highest number of millionaire households at 7.1 million, as well as the highest number of new millionaires with 1.1 million.
However, China saw its millionaire households rise from 1.5 million in 2012 to 2.4 million in 2013, surpassing Japan.
The report found that he number of millionaire households in Japan fell from 1.5 million to 1.2 million, driven by the 15% fall in the yen against the dollar, BCG pointed out.
The most millionaires
The report, Riding a Wave of Growth: Global Wealth 2014, found that the rise in private financial wealth in 2013, was stronger than in 2012, when global wealth grew by 8.7%.
The key drivers, for the second consecutive year, were the performance of equity markets and the creation of new wealth in rapidly developing economies (RDEs), Boston Consulting said.
On a regional basis, Asia-Pacific (excluding Japan) posted the strongest growth in private wealth (30.5%), followed by Eastern Europe (17.2%), North America (15.6%), the Middle East and Africa (11.6%), and Latin America (11.1% at constant exchange rates, not considering currency devaluations in many Latin American countries).
China the second wealthiest nation
Asia-Pacific (excluding Japan) is expected to overtake Western Europe as the second-wealthiest region in 2014, and North America as the wealthiest in 2018, Boston Consulting said.
Global private wealth is projected to post a compound annual growth rate (CAGR) of 5.4% over the next five years to reach an estimated $198.2 trillion by the end of 2018.
With a projected CAGR of 10.5%, private wealth in the Asia- Pacific region will expand to an estimated $61.0 trillion by the end of 2018, while private wealth in North America will reach an estimated $59.1 trillion by the end of 2018.
For the Middle East and Africa region, with a projected CAGR of 6.5%, private wealth in the region will reach an estimated $7.2 trillion by the end of 2018.
More on global wealth
Massive global wealth disparity
Loading ...
