Australia’s Millionaire Population Grows

Thursday, 23 Jun 2011 12:11 PM

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A report by Capgemini and Merrill Lynch shows an 11.1 percent increase in the number of millionaires in Australia from 2009 to 2010, reports ABC News.

Dorus van den Biezenbons from Capgemini Australia attributes the rise in Australian millionaires to a variety of factors.

“GDP grew by 2.8 percent last year, so that’s good growth,” he explained. He also notes that market capitalization showed a gain of 15.3 percent in 2010 and that the real estate market experienced a similar boom.

Excited, but not unrealistic, Van den Biezenbons admits that this surge of wealth will not last forever. “We are expecting a further slowdown for the Asia-Pacific region for next year,” he said.

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