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.

via 5 Things You Should Know About Asias Millionaires | Asia Society.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like

Thai Auto Production Up 4% in March

Thailand is one of the largest producers of automobiles in Southeast Asia, and the industry has been growing steadily in recent years.

Thailand’s ranking in the Global Innovation Index (GII 2023) remains unchanged at 43rd

Thailand’s ranking in the Global Innovation Index has remained stagnant at 43rd for three consecutive years due to a lack of human capital and unfavorable regulatory environment.

Chinese carmaker Hozon to set up EVs plant in Thailand

Hozon, a Chinese electric vehicle (EV) maker, is expanding its presence in…