Asia's millionaires outnumber those in North America

By artappraiser on Wed, 09/19/2012 - 4:25pm |

By Aaron Smith, CNNMoney, September 19, 2012

NEW YORK -- For the first time ever, there are now more millionaires in Asia than in North America, driven by growth in China and Japan.

There were 3.37 million high-net-worth individuals in the Asia-Pacific region in 2011, according to a report out Wednesday from Capgemini and RBC Wealth Management. That's an increase of 1.6% from 2010. By comparison, there are 3.35 million high-net-worth individuals in North America.

The population of high-net-worth Asians - defined as having at least $1 million in investable income - also exceeded the number of ultra-wealthy Europeans for a second straight year [...]

North America still holds the world's largest collective pile of investable wealth: $11.4 trillion, which is actually down 2.3% from 2010 [...]

URL:

http://money.cnn.com/2012/09/19/investing/asian-millionaires/index.html?iid=HP_LN