Its raining money and how! Well, the rich are getting richer and The Boston Consulting Group just came out with a report that tracks down where all the wealthy pockets of the world are. The BCG report shows a $9 trillion rise in the global wealth which is up to $121.8 trillion. No surprise that he US still holds the maximum number of millionaire households. The figure is estimated at 5.22 million such households, 4.5% of those in all of America. Closing in on number two is the earthquake stricken land of the rising sun, Japan that spots 1.53 million households, but that is because of the current exchange ration interestingly, Japan doesn’t feature in the top 15 countries under the UHNW households. However, another not so surprising fact is the growth of China.
China boasts of 1.11 million millionaire households, which is thrice the figure BCG came out with (410,000, to be precise) in 2005. Its close competitor, India with a meager 190,000 millionaire households, is placed at the 11th spot on the report. Other regions boasting of high density of millionaire pockets include Singapore, Switzerland, Qatar, Hong Kong and Kuwait. Monish Kumar, senior partner and global leader of Asset and Wealth Management at BCG said, “2010 was a damn good year for global wealth,” Global wealth is at an all time-high.” Click here for the full report.