ID :
22114
Wed, 10/01/2008 - 17:01
Auther :
Shortlink :
http://m.oananews.org//node/22114
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ASIA PACIFIC HOME TO 27.8 PER CENT OF MILLIONAIRES By D. Arul Rajoo
BANGKOK, Sept 30 (Bernama) -- For the third straight year, Asia Pacific dominated the list of the world's 10 fastest-growing markets for High Net WorthIndividuals (HNWIs) or millionaires, with India, China, South Korea, Indonesia and Singapore taking five of the top spots.
India led the way with 22.7 per cent increase in its HNWI population,
followed by China at 20.3 per cent while Korea, Indonesia and Singapore posted
gains of 18.9, 16.8 and 15.3 percent, respectively.
According to the annual Asia-Pacific Wealth Report published by Merrill
Lynch and Capgemini, Singapore had an estimated 77,000 millionaires at the end
of last year, the highest concentration of HNWIs in its adult population within
the region.
Last year, 1.99 per cent of Singapore's adult population had net assets of
more than US$1 million (US$1 = RM3.39), the report said, adding that the
republic's HNWIs had an average net worth of US$4.9 million, the third highest
in the Asia-Pacific region after Hong Kong and China.
The number of millionaires in Asia Pacific expanded to 2.8 million at the
end of last year, an increase of 8.7 per cent and exceeding the global growth
rate of six per cent, according to the report.
Asia Pacific is home to 27.8 per cent of the world's HNWI population.
The report covered nine key markets in Asia Pacific, namely Australia,
China,
Hong Kong, India, Indonesia, Japan, Singapore, South Korea and Taiwan.
The region's wealthy held a combined US$9.5 trillion in financial assets,
up
12.5 per cent from a year earlier and making up 23.3 per cent of global HNWI
wealth.
"Emerging markets are benefiting from recent reforms to the financial
services industry and increases in foreign direct investment from international
markets, such as the US, Britain and Middle East," said Wayne Li, senior manager
of Capgemini's Financial Services unit.
Li said that as long as the region remained an engine of wealth creation,
local and foreign investors would continue to pursue investment opportunities in
the region.
The number of Ultra-HNWIs in Asia Pacific jumped 16.4 per cent to 20,400
last year, nearly double the 8.8 per cent global growth rate.
Of the 95,000 millionaires in Hong Kong, an estimated 1,500 are Ultra-HNWIs
with more than US$30 million in financial assets. Last year, Ultra-HNWIs
accounted for 26.3 per cent of the region's combined HNWI wealth.
The Asia Pacific region also saw an increase in Emerging-HNWIs, or
individuals with between US$750,000 and US$1 million in investable assets.
The number of Emerging-HNWIs in Asia Pacific rose 6.9 per cent last year,
versus the global rate of 5.2 per cent. In particular, China's emerging affluent
class grew at 19.9 per cent.
-- BERNAMA
India led the way with 22.7 per cent increase in its HNWI population,
followed by China at 20.3 per cent while Korea, Indonesia and Singapore posted
gains of 18.9, 16.8 and 15.3 percent, respectively.
According to the annual Asia-Pacific Wealth Report published by Merrill
Lynch and Capgemini, Singapore had an estimated 77,000 millionaires at the end
of last year, the highest concentration of HNWIs in its adult population within
the region.
Last year, 1.99 per cent of Singapore's adult population had net assets of
more than US$1 million (US$1 = RM3.39), the report said, adding that the
republic's HNWIs had an average net worth of US$4.9 million, the third highest
in the Asia-Pacific region after Hong Kong and China.
The number of millionaires in Asia Pacific expanded to 2.8 million at the
end of last year, an increase of 8.7 per cent and exceeding the global growth
rate of six per cent, according to the report.
Asia Pacific is home to 27.8 per cent of the world's HNWI population.
The report covered nine key markets in Asia Pacific, namely Australia,
China,
Hong Kong, India, Indonesia, Japan, Singapore, South Korea and Taiwan.
The region's wealthy held a combined US$9.5 trillion in financial assets,
up
12.5 per cent from a year earlier and making up 23.3 per cent of global HNWI
wealth.
"Emerging markets are benefiting from recent reforms to the financial
services industry and increases in foreign direct investment from international
markets, such as the US, Britain and Middle East," said Wayne Li, senior manager
of Capgemini's Financial Services unit.
Li said that as long as the region remained an engine of wealth creation,
local and foreign investors would continue to pursue investment opportunities in
the region.
The number of Ultra-HNWIs in Asia Pacific jumped 16.4 per cent to 20,400
last year, nearly double the 8.8 per cent global growth rate.
Of the 95,000 millionaires in Hong Kong, an estimated 1,500 are Ultra-HNWIs
with more than US$30 million in financial assets. Last year, Ultra-HNWIs
accounted for 26.3 per cent of the region's combined HNWI wealth.
The Asia Pacific region also saw an increase in Emerging-HNWIs, or
individuals with between US$750,000 and US$1 million in investable assets.
The number of Emerging-HNWIs in Asia Pacific rose 6.9 per cent last year,
versus the global rate of 5.2 per cent. In particular, China's emerging affluent
class grew at 19.9 per cent.
-- BERNAMA
