Peru: minting new millionaires
Source: Jockey Plaza
Millionaires might seem like chump change in this age of trillion-dollar deficits and billion-dollar bailouts.
But in Peru, new millionaires are just another indicator of the kind of strong economic growth that prompted the International Monetary Fund to brand the Andean economy shock-resistant. A reverse canary-down-the-mine, if you will. Continue reading »
Asia’s millionaires: on the up
Here’s another reminder that this is the Asian century. There are now more millionaires there than in North America, according to the latest World Wealth Report.
Given the size of China’s population and a 9.2 per cent growth in GDP last year, it is not surprising that many of the 3.4m Asian millionaires are found there. The number of people in China with more than $1m for investment rose 5.2 per cent from 2010 to 562,400 last year, according to the survey by CapGemini and RBC Wealth Management. Continue reading »
India’s shrinking rich list
Another sign of India’s economic malaise: according to the latest wealth report from Capgemini and RBC, India was the only one of the Bric countries to have fewer dollar millionaires in 2011 than in 2010.
The world’s population of rich people stayed roughly equal at 11m in 2011, according to the report published on Tuesday. But those people’s aggregate investable wealth by asset value slid 1.7 per cent to $42tn. Continue reading »
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