Millionaire wealth in Asia may top North America by 2014

[dkf]

Wealth among the richest in the Asia-Pacific region could surpass that of North America as soon as next year, a joint report by Capgemini and RBC Wealth Management showed on Wednesday.

The total wealth of high net-worth individuals in the region – defined as those with investable assets of $1 million and above – is expected to rise to $15.9 trillion by 2015, compared with $12 trillion in 2012. Wealth of the equivalent group of individuals in North America stood at $12.7 trillion last year.

"The Asia-Pacific market is clearly one to watch. Its leadership in global high net-worth wealth growth positions it to become the largest wealth market by population as early as 2014," M. George Lewis, Group Head of RBC Wealth Management & RBC Insurance said in the report.

The number of high net-worth individuals in Asia-Pacific rose 9.4 percent to 3.68 million last year. Hong Kong and India experienced the biggest percentage gains, with the population of this group rising 35 percent to 114,000 and 22 percent to 153,000, respectively.

http://www.cnbc.com/id/101061049

[onehandle]

1. Of course it will. Asia will dominate the world by 2050.

And they have little or no restrictions on corporations.

Fear the future.

[pampango]

2. Asia has 8 times the population of North America. It is amazing that the wealth prediction is not

already true.

It is not surprising that Europe is way behind North America when it comes to the wealth of the rich. Even though Europe's GDP and population are higher than here, their rich just cannot seem to accumulate as much wealth as ours do. I wonder why that is. Those poor rich Europeans just have to share too much of their wealth with non-rich Europeans.