Spain finally joins world's millionaires' club

21st June 2006, Comments 0 comments

21 June 2006, MADRID — Spain has become a member of an exclusive club of countries with the highest number of wealthy people, a report said on Wednesday.

21 June 2006

MADRID — Spain has become a member of an exclusive club of countries with the highest number of wealthy people, a report said on Wednesday.

It joined the 'top ten' of countries with the highest number of millionaires, according to a new survey.

Merrill Lynch and the consulting firm Capgemini said there are 148,000 Spaniards who possess one million dollars.

The Spanish daily El Pais reported how it marked the first time since the country's Golden Age in the Middle Ages, that Spain had such a high number of rich people.

The building boom, rising markets and surges in business profits were the reasons why Spain's richest were becoming richer, the report said.

The figures cited in the reported for 2005, showed a 6 percent rise from 2004 – the second highest in Europe.

Spain's tax office said there are 65 Spaniards who reported personal income of more than EUR 30 million.

But the World Wealth Report said there were 1,500 Spaniards who were multi-millionaires because they had incomes of EUR 24 million or above.

The US topped the list with 2.6m multimillionaires, followed by Japan with 1.4m, Germany, Britain, France, China, Canada, Italy and Switzerland.

[Copyright EFE with Expatica]

Subject: Spanish news
  

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