For the first time in the history of the report, the average assets held by millionaires has exceeded $4 million, Merrill Lynch and Capgemini said.
The number of HNWIs in the world increased 6 percent in 2007 to cross the 10 million mark while the number of ultra high net worth individuals (Ultra-HNWIs) increased by 8.8 percent.
The wealth of the world's high net worth individuals (HNWIs1) increased 9.4 percent to US$40.7 trillion in 2007, according to the 12th annual World Wealth Report.
Global growth remained solid in 2007, in terms of both real GDP and market capitalization– the two primary drivers of wealth generation. Strong worldwide gains in the first half of 2007 boosted HNWI growth, the report said.
In 2007, most European nations saw domestic savings rise, a likely result of high and rising interest rates throughout 2006 and much of 2007, the report said.
The countries which saw a drop in savings, recorded greater fall in GDP growth than fluctuations in consumption behavior, underscoring the impact slowdowns had on mature markets, the report added. While traditional United States, European and Asian stock market indexes experienced moderate growth, many emerging markets performed well.
Image: Lottery shop workers who sold a winning ticket celebrate after the annual Christmas Lottery in Madrid. Every year since 1812, Spaniards excitedly follow the results of the Christmas lottery, now the richest in the world with more than 2.0 billion euros in prize money to be shared among a few thousand lucky winners. | Photograph: Dibyangshu Sarkar/AFP/Getty Images
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