ID :
127450
Sat, 06/12/2010 - 06:48
Auther :
Shortlink :
https://oananews.org//node/127450
The shortlink copeid
India, China to grow wealthier faster than other nations
Yoshita Singh
Boston, Jun 11 (PTI) Emerging markets like India and
China will see faster wealth creation in the future, says a
report according to which global wealth grew a "remarkable"
11.5 per cent in 2009 to USD 111.5 trillion.
Global management consulting firm Boston Consulting Group
(BCG) in its 10th annual Global Wealth report estimated that
China and India will generate triple the growth of other
countries from 2009 end to 2014.
The recovery in wealth, which offset the 10 per cent dip
in global assets under management in 2008, was driven by
resurgent financial markets and increased savings, it said.
BCG projected that global wealth would grow at an average
annual rate of nearly 6 per cent from 2009 year-end through
2014, much slower than the sharp recovery last year but still
higher than the 4.8 per cent annual growth rate from 2004
year-end through 2009.
"There's no doubt that wealth will continue to grow
faster in emerging markets, fueled by strong economic growth,"
BCG Partner and Co-Author of the report Tjun Tang said.
Asia-Pacific, excluding Japan, is expected to grow at
nearly twice the global rate, raising its share of global
wealth from 15 per cent in 2009 to almost 20 per cent in 2014.
However, the rebound in wealth does not mean "a return to
business as usual," BCG said, adding that client trust and
wealth manager performance are still lower than they were
before the global economic crisis.
North America posted the largest absolute gain in wealth
at USD 4.6 trillion (15 per cent), but the largest percentage
gain, and the second largest in absolute terms, occurred in
Asia-Pacific (excluding Japan), where wealth increased by 22
per cent, or USD 3.1 trillion.
Europe remained the wealthiest region. Its USD 37.1
trillion in AUM represented one-third of the world's wealth.
The number of millionaire households across the world
rose by about 14 per cent in 2009 to 11.2 million.
The US had by far the most millionaire households (4.7
million) followed by Japan, China, the United Kingdom, and
Germany. PTI YAS
RBT
Boston, Jun 11 (PTI) Emerging markets like India and
China will see faster wealth creation in the future, says a
report according to which global wealth grew a "remarkable"
11.5 per cent in 2009 to USD 111.5 trillion.
Global management consulting firm Boston Consulting Group
(BCG) in its 10th annual Global Wealth report estimated that
China and India will generate triple the growth of other
countries from 2009 end to 2014.
The recovery in wealth, which offset the 10 per cent dip
in global assets under management in 2008, was driven by
resurgent financial markets and increased savings, it said.
BCG projected that global wealth would grow at an average
annual rate of nearly 6 per cent from 2009 year-end through
2014, much slower than the sharp recovery last year but still
higher than the 4.8 per cent annual growth rate from 2004
year-end through 2009.
"There's no doubt that wealth will continue to grow
faster in emerging markets, fueled by strong economic growth,"
BCG Partner and Co-Author of the report Tjun Tang said.
Asia-Pacific, excluding Japan, is expected to grow at
nearly twice the global rate, raising its share of global
wealth from 15 per cent in 2009 to almost 20 per cent in 2014.
However, the rebound in wealth does not mean "a return to
business as usual," BCG said, adding that client trust and
wealth manager performance are still lower than they were
before the global economic crisis.
North America posted the largest absolute gain in wealth
at USD 4.6 trillion (15 per cent), but the largest percentage
gain, and the second largest in absolute terms, occurred in
Asia-Pacific (excluding Japan), where wealth increased by 22
per cent, or USD 3.1 trillion.
Europe remained the wealthiest region. Its USD 37.1
trillion in AUM represented one-third of the world's wealth.
The number of millionaire households across the world
rose by about 14 per cent in 2009 to 11.2 million.
The US had by far the most millionaire households (4.7
million) followed by Japan, China, the United Kingdom, and
Germany. PTI YAS
RBT
