North American millionaires, youre no longer at the top of the heap. According to a report issued last week by Capgemini consultancy and RBC Wealth Management, the Asia-Pacific region now has, for the first time ever, more individuals with more than $1 million in investable assets than North America.
As the report points out, last year North Americas millionaires dropped 1.1 percent to 3.35 million households, while Asias increased 1.6 percent to 3.7 million.Given comparatively strong growth in its economy last year, China led the pack with 562,400 millionaires, an increase of 5.2 percent over 2010. And despite broader economic malaise worsened by last years tsunami, Japan saw a 4.8 percent increase. The findings werent so rosy for everybody in Asia — India and Hong Kong saw a nearly 20 percent decrease in millionaires last year — but emerging regional players like Thailand, Malaysia and Indonesia saw gains in the newly minted.