Monday, May 9

World minting millionaires at breakneck speed

NEW YORK-the rich to keep getting richer, both here in the United States, and especially in emerging economies around the world marketed.

Public and private investment are controlled by the richest families expected to more than double value to $202 trillion by 2020 from 92 trillion this year according to the survey of millionaires in 25 countries by Deloitte LLP.


In the meantime, also increased the ranks of the families with more than a million dollars, to two thirds to 55.5 million in the developed world. You will more than double to 10 million in emerging markets such as Brazil, China and India.

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Deloitte predicts yet, the majority of the world's richest families will be found still, obsession with emerging markets in the United States and Europe despite the wealth management industry.


"There is no question that are, these markets of fundamental importance in the long run, but wealth managers can see the value of their home base," said Andrew Freeman, Executive Director of the Center for financial services Deloitte.


Deloitte notes that China, Brazil, Russia and other emerging markets will shape new millionaires faster than established markets, powered by expansion, commodity prices, and development.

Millions of Americans not yet eat can afford.

10 Emerging markets millionaire is household wealth seen tripling to $25 billion from $7 trillion this year. By 2020, China is the top connect 10 richest economies with $3.6 trillion of wealth probably the series.


India's average millionaire would be wealthier than the average American millionaire


Deloitte China expected in the emerging markets remain the driving force in the growth of the millionaire wealth, followed by Brazil and Russia be. In the developed markets, the millionaire will have Australia and Singapore the fastest growth rate of households.


Millionaires in Singapore, a hub for wealth management in the far East, can Switzerland by 2015 with $4.5 million, the study by Oxford Economics as the world's highest per millionaire wealth Excel.


In other words, should the United States still has the most millionaires, to 20 million households by 2020 from this year doubled. The entire wealth under U.S. millionaires an annual growth rate of 9 per cent will reach 87 billion dollars by 2020.


As a result banks said of Deloitte Freeman, broker and trusts have many growth opportunities in States such as California, Florida and New Jersey that by 2020 the largest density of U.S. millionaires will have.


Prosperity in the study includes financial assets (stocks, bonds and other investments) and non-financial assets, including primary residence, commodities, business equity and other resources.


Copyright 2011 Thomson Reuters.

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