HONG KONG, Aug 31 (Reuters) - Asia will add 1.66 million
dollar-millionaires by 2015, taking the total number of wealthy
to 2.82 million as the world's fastest-growing major economies
of China and India continue to mint millionaires, a report from
Julius Baer said on Wednesday.
The Swiss wealth manager forecast that the wealth of high
networth individuals (HNIs), those with $1 million or more in
investable assets, would nearly triple to $15.8 trillion in the
five years to 2015.
China alone would be home to nearly half of the millionaires
in Asia with combined wealth of $8.8 trillion. The world's most
populous nation had 502,000 million HNIs with investable assets
totaling $2.6 trillion, the report said.
India would more than double the number of HNIs to 403,000
by 2015, while Indonesia would see the highest growth rate in
the number of wealthy, up by a quarter to 99,000, the first such
report from Julius Baer said.
The wealth manager forecast that China and India would
collectively contribute 40 percent to global growth for 2011 and
RANKS OF THE RICH BY 2015
Country No of HNIs (1,000) Wealth of HNIs ($bln)
China 1378 8764
India 403 2465
Indonesia 99 487
Philippines 38 164
Thailand 128 609
South Korea 310 1074
Malaysia 68 329
Taiwan 136 593
Hong Kong 131 711
Singapore 129 616
Total 2820 15812
(Reporting by Nishant Kumar; Editing by Chris Lewis)
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