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Where do the world's millionaires live? | Where do the world's millionaires live? |
(about 2 hours later) | |
Despite a challenging economic environment, total global wealth has hit a new record high, rising by $20.1 trillion between mid-2013 and mid-2014, an increase of 8.3%, to reach $263 trillion – more than twice the $117 trillion recorded in 2000. | Despite a challenging economic environment, total global wealth has hit a new record high, rising by $20.1 trillion between mid-2013 and mid-2014, an increase of 8.3%, to reach $263 trillion – more than twice the $117 trillion recorded in 2000. |
This, according to a report by Credit Suisse on global wealth. | |
Here are the study’s main findings: | |
Nearly four million adults worldwide saw their net worth exceed $1 million over the past year | |
More than 40% of the world’s millionaires lives in the US | More than 40% of the world’s millionaires lives in the US |
The US also leads in terms of the ultra-rich, which Credit Suisse defines as those with wealth above $50 million. | The US also leads in terms of the ultra-rich, which Credit Suisse defines as those with wealth above $50 million. |
Unsurprisingly, wealth is primarily concentrated in advanced economies | |
Credit Suisse in fact notes that “emerging-market wealth growth has not been able to maintain its momentum from the pre-crisis period between 2000 and 2008”. | |
In the coming years the rate of wealth growth will likely exceed its long-term average level, and will rise by 40% in the next five years. The wealth share of emerging markets is expected to pick up pace again. | |
Finally, how things may look for millionaires in 2019 |
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