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Asia Pacific Focus  

Asia Pacific leads world in creating wealth


Asia Pacific leads world in creating wealth

The Asia Pacific region houses a higher proportion of High Net Worth Individuals (HNWIs) than any other region on earth.

The claim is part of the World Wealth Report prepared by Merrill Lynch which studied wealth effects in seventy one countries, which account for 98% of global gross income and 99% of world stock market capitalization.

The asset wealth calculations in the report are derived from private equity holdings (at book-value), publicly listed equities, bonds, funds, and cash deposits. They do not take account of consumables, consumer durables, privates homes used as principal residences or collectibles.

The 2009 World Wealth Report estimates that in 2008 the number of HNWIs reduced by nearly 15%. The wealth of the remainder declined by nearly 20%. While the Asia Pacific leaped ahead it also hosted the state with the bigger loss of HNWIs, Hong Kong, which shed around 60%.

China was the winner big with wealthy individuals mushrooming to the point where the country has become the fourth largest population of HNWIs, in front of Great Britain.

In terms of figures, the population of High Net Worth Individuals has now been slimmed to 8.6 million, and their wealth had reduced down to $32.8 trillion.

An interesting note is that Japan accounts for 50% of the high net worth individuals in the Asia Pacific region, and they in 2008 lost only 11% of their worth.

Perhaps Asia Pacific News.Net should point out High Net Worth Individuals (HNWIs) are counted as such if they have at least $1 million (US dollars) in investment assets, excluding their residence, collectibles, consumables, and consumer durables.

Ultra-High Net Worth Individuals (Ultra-HNWIs) hold at least US$30 million in investment assets, excluding their primary residence, collectibles, consumables, and consumer durables.


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Friday 12th March, 2010

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