Asia has more millionaires than Europe but less than North America

We have been seen the shift from the West to the East in everything. While people have only been witnessing or experiencing the changes, now it has been established that Asia is the next superpower. According to the 15th annual World Wealth Report by Merrill Lynch’s wealth management division and consultancy Capgemini, Asia has more millionaires than Europe and is racing even to overtake North America. It stated that the Asia-Pacific region had 3.3 million people worth $1 million or more in 2010. It also said that economies in the area were growing much quicker than the developed nations, accumulating millionaires.

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Asia had been climbing the beanstalk of wealth for a while longer than a couple of years ago; it raised Europe to the top slot for having an immense combined wealth. Of the total world wealth of $42.7 trillion in 2010, Asia boasted $10.8 trillion, after North America with $11.6 trillion. Asian countries that stood out in the report included Hong Kong, Vietnam, Sri Lanka, Indonesia, Singapore, and India.

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