Asia's millionaires outnumber North America's – survey | Lifestyle.INQ

OCTOBER 27, 2022

A rainbow is seen over residential and commercial buildings in Hong Kong on June 19, 2012. AFP FILE PHOTO
A rainbow is seen over residential and commercial buildings in Hong Kong on June 19, 2012. AFP FILE PHOTO

HONG KONG – Asia’s millionaires outnumbered North America’s for the first time last year as the world’s wealthy saw their fortunes declined amid turbulent financial markets, a new survey says.

The report by Capgemini and Royal Bank of Canada released Monday found that the Asia-Pacific region was home to 3.37 million people who have at least $1 million to invest. That’s up 1.6 percent from the year before. In second place was North America with 3.35 million.

The annual report found that the combined wealth of the world’s wealthy declined 1.7 percent in 2011 to $42 trillion. The contraction came as financial markets grew more volatile over widespread concerns about the European sovereign debt crisis.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

MOST VIEWED STORIES