23 Jun '11, 2pm

#Asia Pacific's high net worth population surpasses Europe's

SINGAPORE : Asia Pacific's high net worth population has reached 3.3 million, surpassing that of Europe's for the first time. The figure compares with Europe's 3.1 million and North America's 3.4 million, according to the World Wealth Report by Merrill Lynch and Capgemini. The total number of high net worth individuals exceeded pre-crisis levels last year, reaching 10.9 million globally. Now, if wealth is a barometer for the world economy, things may be looking better than expected. The financial wealth of high net worth individuals around the world reached US$43 trillion in 2010, breaking the previous high of US$41 trillion in 2007, the report said. High net worth individuals are defined as those with investable assets of US$1 million or more. These exclude primary residences, collectibles, consumables and consumer durables. The report said that in 2010, high net worth in...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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