The world has more millionaires

According to the latest "World Wealth Report" by Merrill Lynch and Capgemini the total global wealth of high net worth individuals (HNWIs) climbed 8.5 percent to $ 33 300 bln in 2005. As HNWIs are considered persons with a minimal wealth of $ 1 million. This latest figure is slightly above the traditional average of 8 percent. The year 2005 saw a growth in wealth (volumes) and also in the number of millionaires. The number of millionaires is currently estimated at 8.7 million investors worldwide, 85 400 of which own a fortune of more than $ 30 million. The report estimates also that the global wealth will rise to $ 44 600 bln until the year 2010.

According to the report, the rise of worldwide fortunes is mainly due to the continous economic growth and the higher valuations of assets through the markets. In the regions which were covered by the report the Gross Domestic Product (GDP) rose by an average of 4.3 percent. Countries such as China (+ 9.9 percent), India (+ 8 percent) and Russia (+ 6.4 percent) recorded growth rates above the average, whereas European economies and the USA (+ 3.5 percent) were only on a moderate growth path.

Read the full report by Merrill Lynch and Capgemini (download 3.16 MB).

Source: Neue Z├╝rcher Zeitung


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