Where Do Most of the World’s Millionaires Live?

Where Do Most of the World’s Millionaires Live?

In the last year, millionaires have multiplied. With stock markets rising, and the real estate market finally recovering, there are now one million more millionaires in the world today than the previous year, finds a new World Wealth Report.

The study, conducted by RBC Wealth Management and Capgemini Financial Services, looked at those with one million or more to invest, and tallied up 12 million of these so-called “high-net-worth” citizens across the globe.

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Not only has the total number of millionaires worldwide jumped 9.2%, but the rich are also getting richer. The collective investable wealth of the “super-rich” experienced a 10% increase, swelling to $46.2 trillion.

North America Reclaims Top Spot

Every region except Latin America saw strong growth in millionaires and their wealth last year, but North America led the pack, boasting a millionaire population of 3.73 million. This was a turnaround from last year when the top spot went to the Asia-Pacific for the first time.

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But the continent may not hold the title for long. The World Wealth Report forecasts strong growth from the Asia-Pacific region in the future, and predicts that this area’s progress is likely to spearhead more high-net-worth growth in years to come—6.5% worldwide annually for the next three years.

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