Wealth assets held by high-net-worth individuals in the Asia-Pacific region jumped almost 15 percent to $21.6 trillion in 2017, according to a Capgemini SE report released Tuesday. Accelerating economic growth and equity market rallies helped push the global total to a record $70.2 trillion, the World Wealth Report showed.
The rising number of millionaires in Asia is prompting financial firms from Credit Suisse Group AG to DBS Group Holdings Ltd. to expand private banking operations throughout the region. While Japan and China contributed the bulk of Asia’s wealth last year, India topped the global chart when it came to the growth rate.
“Emerging markets in Asia, such as China and India, are going to be the engine of growth,” said David Wilson, the consulting firm’s head of Asia wealth management.
Global wealth is on course to exceed $100 trillion by 2025, according to the report, which defines high-net-worth individuals as those with at least $1 million in investable assets.
Poster Comment:
#1: Justified To: Willie Green (#0)
Justified posted on 2018-06-19 12:10:38 Reply Private Reply
#2: sneakypete To: Justified (#1)
NOT saying there aren't some insanely rich Asians in Asia,but the standards of living there are usually a little lower than those in the US or Europe.
sneakypete posted on 2018-06-19 12:16:31 Reply Private Reply
#3: Justified To: sneakypete (#2)
Justified posted on 2018-06-19 12:21:22 Reply Private Reply
#4: misterwhite To: Willie Green (#0)
Tax them! Take their money! Tax their wealth! Tax their investments! Tax their savings! Level the playing field!
We can't have this kind of disparity between those who work hard and those who sit around collecting government benefits. This is America, dammit.
misterwhite posted on 2018-06-19 14:31:33 Reply Private Reply