Tuesday, 06 December 2022
Asian millionaires 'top wealth rankings'

Asian millionaires 'top wealth rankings'

Asian millionaires now control more wealth than those in North America, Europe and other regions, according to a report from finance firm Capgemini.

Driven by China and Japan, Asia's millionaires saw their wealth jump by 10% in 2015, the firm's World Wealth Report found.

Millionaires held nearly $60 trillion (£40 trillion) worldwide last year, four times higher than 30 years ago.

That could rise to $100 trillion by 2025, Capgemini said.

Asia also surpassed North America in terms of the number of millionaires in 2014. And their ranks grew even more last year, soaring 9.4%.

Of the 5.1 million Asian millionaires in 2015, 2.7 million came from Japan and 1 million were from China. There were 4.5 million U.S. millionaires.

'Dominant force'

Capgemini found the growth in Asia was driven mainly by financial services, technology and health care industries.

The region's millionaires held $17.4 trillion of wealth, compared with $16.6 trillion in North America, the report said.

(BBC News)

Last modified on Friday, 24 June 2016 15:01