Emerging nations boost global wealth to $231 trillion: study

19th October 2011, Comments 0 comments

The growing rich in emerging nations propelled global wealth in 2011 to $231 trillion from $195 trillion in 2010, Swiss banking giant Credit Suisse said Wednesday.

In five years' time, total global wealth is expected to soar further, by 50 percent to $345 trillion, with China surpassing Japan to become the second richest nation as the country's total household wealth rises by $18 trillion to $39 trillion.

Despite the financial and economic crises, the United States remains the world's richest nation by far and is projected to report total wealth of $81 trillion by 2016, added the Global Wealth Report.

After all, just over a third (34 percent) of the world's millionaires come from the United States.

Japan had the next biggest population of millionaires, with 11 percent, followed by France with nine percent.

The United States also dominated in terms of the ultra wealthy or individuals with more than $50 million, with 35,400 individuals.

China was in second place with 5,400 multi-millionaires, followed by Germany with 4,135.

© 2011 AFP

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