The Kashmir Monitor The Boston Consulting Group's 'Global Wealth 2015: Winning the Growth Game' report said continued economic expansion of China and India was driving growth in wealth in the Asia- Pacific region.
'The US remains the country with the largest number of
ultra-high-net-worth (UHNW) households at 5,201, followed by China
(1,037), the UK (1,019), India (928) and Germany (679) in 2014, it said.
'India's UHNW households grew manifold from 2013 when the number stood at 284.
'The private wealth in the Asia-Pacific region expanded by a steep 29
percent in 2014 to reach USD 47 trillion, enabling it to overtake Europe
(Eastern and Western Europe combined) to become the world's
second-wealthiest region, the report said.
'With a projected USD 57 trillion in 2016, Asia-Pacific (excluding
Japan) is expected to surpass North America (a projected USD 56
trillion) as the wealthiest region in the world and will be the largest
pool for client acquisition.'