_Asia will probably surpass West in numbers of millionaires in a few years
Since the economy in the western country is going into one more round of downturn, Asian companies are said to be performing well, when the number of new millionaires in the Asian economy is any signal. The world economy weight of the _ seemed to be transferring from the West to the Asian nations.
Based on a study issued by the Boston Consulting Group, India, Singapore and also China have seen the greatest boost in the amount of millionaires inside the Asia Pacific locality. Likewise, it's been observed that there might be a decline in affluence in the US along with Western European regions.
Within China the amount of wealthy people has gone up by 16% to 1.43 million. At the neighboring country of Singapore, the number went up to 14% and touched 188,000. The leading growth in the amount of millionaires has been observed in India and the statistics stands at 162,000 - a crisp and clean increase of 21% than the former year. In this same time period, the numbers of money barons in the US dropped by 129,000 and crossed 5.13 million. If the percentage of wealthy homes is taken into account, Singapore has got the maximum share whereas Hong Kong leads the way for the optimum percentage of billionaires.
Generally, money has dropped in the western world simply because of the debt crisis in European countries and the downward movement of stock market in the diverse economies. Nevertheless, the Asia Pacific part, except for Japan captured a gain of riches by 11% to $23.7 trillion and also if this goes on, it is anticipated to exceed the personal wealth in the United States and Western areas. As reported by the Boston consulting group, private wealth of general people is expected to go up by 15 and 19% each year and this development may go on till 2016. If this proceeds, it could be a whole new pattern in the sector of international finance.
Based on a study issued by the Boston Consulting Group, India, Singapore and also China have seen the greatest boost in the amount of millionaires inside the Asia Pacific locality. Likewise, it's been observed that there might be a decline in affluence in the US along with Western European regions.
Within China the amount of wealthy people has gone up by 16% to 1.43 million. At the neighboring country of Singapore, the number went up to 14% and touched 188,000. The leading growth in the amount of millionaires has been observed in India and the statistics stands at 162,000 - a crisp and clean increase of 21% than the former year. In this same time period, the numbers of money barons in the US dropped by 129,000 and crossed 5.13 million. If the percentage of wealthy homes is taken into account, Singapore has got the maximum share whereas Hong Kong leads the way for the optimum percentage of billionaires.
Generally, money has dropped in the western world simply because of the debt crisis in European countries and the downward movement of stock market in the diverse economies. Nevertheless, the Asia Pacific part, except for Japan captured a gain of riches by 11% to $23.7 trillion and also if this goes on, it is anticipated to exceed the personal wealth in the United States and Western areas. As reported by the Boston consulting group, private wealth of general people is expected to go up by 15 and 19% each year and this development may go on till 2016. If this proceeds, it could be a whole new pattern in the sector of international finance.