Asia's millionaires to become world's richest

Publish date: Wed, 16 Sep 2015, 03:24 AM

SINGAPORE: Asia Pacific millionaires are set to become the world's richest next year, a report said Wednesday, driven largely by wealthy individuals in India and China.

The combined wealth of Asia Pacific's super rich will surpass its 2014 total of US$15.8 trillion and overtake that of their North American counterparts - currently the world's richest group with a shared wealth of US$16.2 trillion last year, the study said.

The research by computer services consultancy Capgemini and RBC Wealth Management said the Asia Pacific region already had the largest number of high net worth individuals (HNWIs), with 4.69 million in 2014 against 4.68 million in North America.

HNWIs are those with investible money of at least $1.0 million apart from the value of their homes and other collectibles.

"Looking further ahead, HNWI wealth is expected to expand more in Asia Pacific than in any other region of the world with much of the new wealth expected to come from the emerging economies of China, India, Indonesia and Thailand," the firms' Asia-Pacific Wealth Report 2015 said.

"China and India, in particular, have propelled Asia Pacific HNWI wealth growth in recent years and are expected to continue to act as key drivers both in the region and globally."

The report said China and India represent nearly 10 percent of global HNWI wealth, and accounted for 17 percent of the worldwide increase in new wealth since 2006.

China had 890,000 millionaires with a total wealth of US$4.5 trillion in 2014, up 17.5 percent and 19.3 percent, respectively, from a year earlier.

Globally, India recorded the fastest pace of growth in the number of millionaires - 26.3 percent to 198,000 - while total wealth surged 28.2 percent to US$785 billion, the report added.

The "Asia Pacific continues its tremendous run in wealth creation and doesn't appear to be slowing down anytime soon," said Barend Janssens, Asia head at RBC Wealth Management.

He added that "despite some recent economic issues, the region's wealth is expected to lead global growth." -AFP

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calvintaneng

BILLIONAIRE JIM ROGER SAID

MOVE TO LONDON IN 1807 - THE BRITISH CENTURY
MOVE TO NEW YORK IN 1907 - THE AMERICAN CENTURY
MOVE TO SINGAPORE IN 2007 - THE ASIAN-PACIFIC CENTURY

HE HIT THE NAIL ON THE HEAD.

SMACK IN THE MIDDLE OF 2 GROWTH CENTERS FOR THE NEXT HUNDRED YEARS IS SINGAPORE, AND ISKANDAR IS THE PROXY TO SINGAPORE‘S STRATEGIC LOCATION - RIGHT IN THE VERY HEART OF THE BOOM IN BETWEEN CHINA , INDIA, THAILAND, INDONESIA AND MALAYSIA.

2015-09-17 01:54

calvintaneng

JIM ROGER HAS MADE HIS HOME IN SINGAPORE.
GOOGLE SINGAPORE - FINAL DESTINATION FOR THE WORLD‘S MILLIONAIRES AND BILLIONARES.

IN THE NOW AND IN THE FUTURE MORE AND MORE BILLIONARES AND MULTI MILLIONAIRES WILL UPROOT AND SHIFT TO FIRST CLASS GOVERNANCE AND FIRST WORLD SINGAPORE.

AND THE STATE THAT WILL BENEFIT MOST IS THE ISKANDAR REGION.

ALL SHOULD TAKE THIS OPPORTUNITY TO MIGRATE TO ISKANDAR.

IN TIMES PAST THE CHINESE HAVE MIGRATED TO NANYANG FOR BRIGHTER PROSPECTS. IN THE AFRICAN CONTINENT ANIMALS MIGRATE TO GREEN PASTURE LAND. FROM THE NORTH POLE BIRDS MIGRATE SOUTH TO ESCAPE THE HARSH WINTER MONTHS..

IN THE COMING ECONOMIC WINTER ISKANDAR WILL BE A PLACE OF REFUGE. ISKANDAR REMAINS AN OASIS IN A WORLD IN DEPRESSION AND RECESSION.

2015-09-17 02:05

squidoo

ringgit dropped so much, singaporeans who invested in Iskandar bleeding money leh...

2015-09-17 10:00

popcorn

Iskandar project is money losing investment even rinngit is not dropped... oversupply and overvalue properties...

2015-09-17 10:08

calvintaneng

Singapore who invested in Iskandar?

I know of one Spore PR guy who bought 5 properties in Iskandar from Johor High Court Auction. In just one short year all 5 properties have shot up by 100%. So the 20% ringgit depreciation against Sing Dollar is still very Ok. He hopes to keep it for 10 years and expect prices to rise up like Shenzhen & Hong Kong example.

As to over supply. Yes for all high rise Condo over Rm700K. But not for landed properties like Single/Double Storey Houses, Cluster or Bungalow houses. These are in short supply & quickly snapped up!

All better be wise & invest in Landed Houses of Iskandar Region

2015-09-17 12:30

fukrai

being sosososo frustrated seeing all the happenings in kl nowaday. am considering migrate to Johor as foresee and expect something good to our future may happen (cannot reveal here due to sensitivity) in very near future.

2015-09-17 13:30

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