Jul
03
The wealth of rich Asians has surpassed Europe’s millionaires for the first time as the region’s stock and property prices rebounded from the global recession, a report shows. The wealth of Asia’s high net worth individuals – those with liquid assets of at least US$1 million – jumped 31 per cent last year to US$9.7 trillion, surpassing Europe’s US$9.5 trillion, according to a report by Merrill Lynch Wealth Management and Capgemini.
For the first time, the size of Asia’s rich population equalled that of Europe at 3 million. “The star performer was Asia-Pacific, the only region in which both macroeconomic and market drivers of wealth expanded significantly in 2009,” the report said. Source
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