Singapore millionaires to have the highest per capita wealth by 2015
According to a recent study conducted by the Deloitte Center for Financial Services, the total wealth of millionaire households in the 25 countries selected for this study will grow from $92 trillion in 2011 to $202 trillion in 2020. Oxford Economics supported Deloitte Center for Financial Services in the study. It was also revealed that the millionaires in Singapore might outdo those in Switzerland with the world's highest per capita wealth by 2015 and 2020 with $4.5 million and $5.4 million respectively. Switzerland sits at the top with the highest per capita wealth in 2011 with $4.2 million.
Despite the excellent growth in emerging markets, the study foresees the developed markets to remain the global centers of wealth over the next decade. Anyway, the growth over the next decade in the emerging economies is likely to be 260 percent, much higher than the expected 107 percent in developed markets.
In 2020, Hong Kong will possibly boast the highest density of millionaires. By 2020, China and South Korea will possibly make it to the top 10 list for the total number of millionaires in the country. The combined wealth of millionaire households in the U.S. is expected to reach $87 trillion in 2020, from $39 trillion in 2011. The economies taken for the study were…
Developed markets: Australia, Canada, France, Germany, Hong Kong, Italy, Japan, Netherlands, Norway, Singapore, Spain, Sweden, Switzerland, United States and United Kingdom.
Emerging markets: Brazil, China, India, Malaysia, Mexico, Poland, Russia, South Korea, Taiwan and Turkey.
