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India among countries that have most millionaires

Last updated on: June 1, 2012 13:42 IST

India among countries that have most millionaires

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Global private financial wealth grew by 1.9 per cent in 2011 to a total of $122.8 trillion. The increase was considerably weaker than in either 2009 or 2010, according to the Boston Consulting Group.

The modest growth in private wealth is being driven by rapidly developing economies in the "new world," not by the "old world" of traditional, mature ones, it says.

Let's take a look at countries that have most millionaires in the world.

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Image: A employee holds a Belle Epoque diamond and emerald neckace during an auction preview at Christie's in London.
Photographs: Stefan Wermuth/Reuters

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The United States

Number of millionaire households (2010): 5,263

Number of millionaire households (2011): 5,134

Global rank: 1

Private wealth in North America fell by 0.9 per cent in 2011 to $38 trillion. The ultra-high-net worth household segment was hit particularly hard, losing 2.4 per cent of its wealth.

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Image: A view of the Times Square in New York City.
Photographs: Gary Hershorn/Reuters

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Japan

Number of millionaire households (2010): 1,640

Number of millionaire households (2011): 1,587

Global rank: 2

Private wealth in Japan fell by 2.0 per cent in 2011 to $17.8 trillion. The value of weallth held in equities fell by 7.6 per cent, while amounts held in bonds as well as in cash remained virtually flat.

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Image: Japan's Mt Fuji, covered with snow, is seen through Shinjuku skyscrapers in Tokyo.
Photographs: Kimimasa Mayama/Reuters
Tags: Japan , India

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China

Number of millionaire households (2010): 1,239

Number of millionaire households (2011): 1,432

Global rank: 3

Private wealth in Asia-Pacific (excluding Japan) increased by 0.7 per cent in 2011 to $23.7 trillion, enabling the region to widen its gap with Japan as the third-wealthiest area globally.

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Image: Artistes display their plate-spinning skills during an acrobatics show in Beijing.
Photographs: Claro Cortes/Reuters
Tags: Japan , China , India

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The United Kingdom

Number of millionaire households (2010): 411

Number of millionaire households (2011): 411

Global rank: 4

Although Western Europe did not suffer as much as North America, the euro debt crisis took its toll, and private wealth fell by 0.4 per cent to $33.5 trillion. The region remained second-wealthiest worldwide.

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Image: A man crosses the Mall, decked out in Union flags and with Buckingham Palace in the background, in London.
Photographs: Andrew Winning/Reuters

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Germany

Number of millionaire households (2010): 320

Number of millionaire households (2011): 345

Global rank: 5

The amount of Western European wealth invested in equities fell by a steep 7.1 per cent - owing to weak performance in Western European markets and continued asset reallocation.

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Image: The skyline of Frankfurt with its bank towers is seen under clouds.
Photographs: Kai Pfaffenbach/Reuters
Tags: , Germany , India

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Switzerland

Number of millionaire households (2010): 317

Number of millionaire households (2011): 322

Global rank: 6

Equities lost a 2.1 percentage point share and constituted 28.5 per cent of Western European private financial wealth at the end of 2011.

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Image: A view of Wollerau village on the edge of Lake Zurich, in the canton of Schwyz, 30km south west of Zurich.
Photographs: Christian Hartmann/Reuters

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Italy

Number of millionaire households (2010): 274

Number of millionaire households (2011): 270

Global rank: 7

Extreme levels of both government and private debt, as well as the threat of bankruptcy faced by several European Union countries, led to double-digit stock-markets declines in some of the region's largest economies.

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Image: An advertisement is seen on Duomo cathedral as people walk across Duomo square in Milan.
Photographs: Stefano Rellandini/Reuters

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Taiwan

Number of millionaire households (2010): 247

Number of millionaire households (2011): 246

Global rank: 8

The strongest growth in Asia-Pacific was in the higher wealth bands, with the share of the total wealth held by households with more than $1 million in wealth increasing to 48 per cent.

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Image: Taipei 101 towers over Taipei's skyline.
Photographs: Simon Kwong/Reuters
Tags: , Taiwan , India

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Hong Kong

Number of millionaire households (2010): 209

Number of millionaire households (2011): 212

Global rank: 9

The amount of wealth in Asia-Pacific held in equities grew by 4.1 per cent, a far weaker performance than the average annual growth of 17.7 per cent witnessed over the past five years.

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Image: A general view of Hong Kong's Victoria Harbour.
Photographs: Bobby Yip/Reuters
Tags: , India

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France

Number of millionaire households (2010): 199

Number of millionaire households (2011): 200

Global rank: 10

Owing mainly to repatriations, offshore wealth declined by 2.2 per cent, reducing its share of total Western European private wealth to 7.6 per cent.

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Image: View of rooftops and the Sacre Coeur Basilica on Montmartre in Paris.
Photographs: Mal Langsdon/Reuters
Tags: , France , India

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Singapore

Number of millionaire households (2010): 165

Number of millionaire households (2011): 188

Global rank: 11

Despite relatively poor stock-market performance in many large Asia-Pacific countries, notably India and China, strong GDP growth driven primarlily by high levels of government and private consumption led to new wealth generation.

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Image: The Marina Bay Sands hotel and ArtScience Museum is seen before Earth Hour in Singapore.
Photographs: Matthew Lee/Reuters
Tags: India , GDP , China , Singapore

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Canada

Number of millionaire households (2010): 175

Number of millionaire households (2011): 185

Global rank: 12

North American wealth is expected to project to post a CAGR of 1.8 per cent over the next five years to reach $41.5 trillion by the end of 2016.

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Image: The Toronto Skyline with a condominium building under construction is shown in downtown Toronto.
Photographs: Mike Cassese/Reuters
Tags: CAGR , India , Canada

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India

Number of millionaire households (2010): 134

Number of millionaire households (2011): 162

Global rank: 13

The number of millionaire households in India jumped nearly 21 per cent to 162,000 in 2011 from 134,000 in 2010, according to global wealth report.

Ultra-high-net-worth households, those having more than $100 million (Rs 560 crore) in private financial wealth, in India increased 15.35 per cent to 278 in 2011 from 241 in 2010.

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Image: A general view shows the Bandra-Worli sea link bridge, also called the Rajiv Gandhi Sethu, in Mumbai.
Photographs: John Goh/Reuters
Tags: India

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The Netherlands

Number of millionaire households (2010): 157

Number of millionaire households (2011): 152

Global rank: 14

Despite ongoing client needs and interests, offshore wealth as an industry remains under intense and increasing pressure owing to greater regulatory scrutiny - particularly from tax authorities in the US and Western Europe.

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Image: Construction work continues on a hotel made to look like 70 Zaanse houses stacked together in Zaandam, north of Amsterdam.
Photographs: Toussaint Kluiters/United Photos/Reuters
Tags: , Western Europe , India , US

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Spain

Number of millionaire households (2010): 147

Number of millionaire households (2011): 139

Global rank: 15

Regulatory tightening will mean that the amount of assets flowing to all offshore centres from investors in markets where tax regimes are becoming ever stricter will decline.

At the same time, client assets flowing offshore from the new world, especially countries with underdeveloped private-banking industries, will continue to grow.


Image: Gaudi's Sagrada Familia and Barcelona's skyline are seen against the backdrop of a snow-covered mount after a snowstorm.
Photographs: Albert Gea/Reuters
Tags: Spain , India

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