The world’s richest are getting richer despite the economic crisis.
The ultra wealthy population has hit an all-time high of 199,235 individuals with a combined fortune of nearly $28 trillion in 2013, growing by more than 6 per cent in population size from the previous year and adding $2 trillion to their combined wealth, greater than the GDP of India.
The Wealth-X and UBS World Ultra Wealth Report 2013 has identified more than 2,000 billionaires globally with a total net worth of US$6.5 trillion, equal to 23 per cent of the world's ultra high net worth (UHNW) total wealth.
In the next five years, Wealth-X forecasts that the world's UHNW population will grow by an annual average of 3.9 per cent and the wealth attributable to the UHNW population is expected to grow by 5.5 per cent.
While the US leads in terms of real growth in UHNW population numbers, with 2,250 UHNWIs, Asia is home to 42,895 UHNW individuals with a combined net worth close to $6.3 trillion.
(The report defines UHNW individuals as those with total net assets of US$30 million)
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Asian countries with the richest people: India at No 3!
Photographs: Issei Kato/Reuters
Japan
UNHW Population: 12,830
Total Wealth: $2,075 billion
The report states that Japan’s GDP saw modest growth and its equity market declined by 16 per cent during 2012-13.
While Japan’s property market also saw a slight decline, the Yen appreciated by 3.3 per cent.
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Asian countries with the richest people: India at No 3!
Photographs: Reuters
China
UNHW Population: 11,245
Total Wealth: $1,580 billion
China and India constitute close to 75 per cent of the UHNWI population.
While the Chinese property market was stable, the Yuan appreciated 2 per cent, says the report.
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Asian countries with the richest people: India at No 3!
Photographs: Parivartan Sharma/Reuters
India
UNHW Population: 7,730
Total Wealth: $925 billion
Wealth-X analysis shows there are 109 billionaires in India. This group represents the top 1.4 per cent of the UHNW population, controls 20.5 per cent of the total fortune attributable to the ultra wealthy segment.
The Indian equity markets which have significant impact on the local UHNW population, declined by 8 per cent during the measuring period while the rupee declined by 25 per cent, states the report.
India has also the highest number of female millionaires in the world as the country boasts of over 1,250 UHNW women with a combined fortune of $95 billion.
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Asian countries with the richest people: India at No 3!
Photographs: Reuters
Hong Kong
UNHW Population: 3,135
Total Wealth: $470 billion
Though Hong Kong has 3,135 UNHWs, the combined wealth loss was highest in Asia as Hong Kong, China and Japan led the wealth loss across the region.
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Asian countries with the richest people: India at No 3!
Photographs: Reuters
South Korea
UNHW Population: 1,385
Total Wealth: $265 billion
South Korea, which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP) is a high-income developed country and is a member of Organisation for Economic Co-operation and Development (OECD).
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Asian countries with the richest people: India at No 3!
Photographs: Kevin Lam/Reuters
Singapore
UNHW Population: 1,305
Total Wealth: $155 billion
Singapore has emerged as a global wealth management hub. It is the world's fourth leading financial centre, second-biggest casino gambling market and one of the world's top three oil-refining centres.
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Asian countries with the richest people: India at No 3!
Photographs: Reuters
Taiwan
UNHW Population: 1,185
Total Wealth: $200 billion
The 19th-largest economy in the world, Taiwan is ranked highly in terms of freedom of the press, health care, public education, economic freedom, and human development.
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Asian countries with the richest people: India at No 3!
Photographs: Supri/Reuters
Indonesia
UNHW Population: 785
Total Wealth: $120 billion
The largest economy in Southeast Asia, Indonesia has emerged as one of the toppers in UHNW wealth and population growth.
Indonesia has a mixed economy in which both the private sector and government play significant roles.
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Asian countries with the richest people: India at No 3!
Photographs: Bazuki Muhammad/Reuters
Malaysia
UNHW Population: 780
Total Wealth: $100 billion
A newly industrialised market economy, Malaysia has one of the best economic records in Asia.
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Asian countries with the richest people: India at No 3!
Photographs: Reuters
Thailand
UNHW Population: 625
Total Wealth: $95 billion
A newly industrialised country Thailand boasts of 625 ultra high net worth individuals.
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Asian countries with the richest people: India at No 3!
Photographs: Reuters
Philipines
UNHW Population: 580
Total Wealth: $85 billion
The Philippine economy has transformed from agriculture to focus on services and manufacturing. The rise in economic wealth has lead to a rise in the numbers of billionaires.
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Asian countries with the richest people: India at No 3!
Photographs: Faisal Mahmood/Reuters
Pakistan
UNHW Population: 310
Total Wealth: $40 billion
Though Pakistan’s economy is in shambles, it also figures among the toppers with 310 ultra rich individuals.
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Asian countries with the richest people: India at No 3!
Photographs: Nguyen Huy Kham/Reuters
Vietnam
UNHW Population: 170
Total Wealth: $19 billion
Vietnam's economic growth has been among the highest in the world. It has 170 high net worth individuals.
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Asian countries with the richest people: India at No 3!
Photographs: Shamil Zhumatov/Reuters
Kazakhstan
UNHW Population: 140
Total Wealth: $20 billion
Strong public spending growth, development of a new oil field in Kazakhstan and a new gas pipeline network in Turkmenistan are expected to support growth in the sub-region. With commodity and fuel prices expected to stabilise, the outlook for Central Asia remains optimistic, says the Wealth-X and UBS World Ultra Wealth Report.
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