Merrill Lynch Global Wealth Management Report: China and India, the New Millionaire Countries

Thursday, September 30, 2010

China India Economy
Total population of wealthy people in Asia Pacific has experienced a major growth, rose 25.8 percent to 3 million people by 2009. In fact, the amount exceeds the population of wealthy people in Europe. The report said by the Merrill Lynch Global Wealth Management and Capgemini has just been released 28 September 2010.

Property value of millionaires in the Asia Pacific region increased 30.9 percent to U.S. $ 9.7 trillion in 2009. Meanwhile, the number of super rich people in Asia Pacific rose 36.7 percent to 19,600.

"China and India become a motor of fastest growth of rich people in Asia Pacific, while Japan is still the most important market in Asia," said Wilson So, Head of Wealth Management at Merrill Lynch Global Wealth for the Asia Pacific region. This area is very promising and a strategic focus for the wealth management company. "

According to the report, the population of rich people in the Asia Pacific region is still focused on the top three countries, namely Japan, China and Australia. The three accounted for 76.1 percent of the total population of wealthy people in Asia Pacific, as well as controls 70 percent of the total wealth in the region.

Japan is by far the largest market for the Asia Pacific region which controls 54.6 percent of the population of millionaires and covers 40.3 percent of wealth in the region. Meanwhile, China became the second largest market in the region and fourth largest in the world with a total population of 477 thousand millionaires, or up 31 percent from a year earlier.

India is also experiencing rapid growth in 2009 with the increase in millionaire population and wealth as much as 50.9 percent and 53.8 percent. The increase was driven by the re-emergence of stock markets, as well as domestic economic strength.

"Asia-Pacific proved to be the toughest region in the economic crisis," said Bertrand Lavayssière, Managing Director Global Financial Services, Capgemini.
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