Asia Pacific overtake North America in having millionaires

Wealthy Chinese and Indians led the rise in the population and wealth of rich individuals in Asia-Pacific in 2014, a new study said.

According to the Asia-Pacific Wealth Report by Capgemini and RBC Wealth Management released on Tuesday, the two countries together represent 10% of the global wealthy and account for 17% of the global increase in new wealth since 2006 and will continue on the same path.

Asia-Pacific saw its population of rich people grow 8.5% in 2014 to 4.7 million while wealth increased 11.4% to $15.8 trillion, leading all regions globally, said the report, which excludes Japan from the Asia-Pacific region.

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Source Credits: Sailaja Sharma in Livemint

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