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The Warsaw Voice » Business » November 29, 2012
Business & Economy
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More Millionaires
November 29, 2012   
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The number of dollar millionaires in Poland will grow by 105 percent to 78,000 over the next five years, according to the third edition of the Global Wealth Report by Credit Suisse, a leading global financial services company headquartered in Zurich. The number of millionaires worldwide is expected to increase by over 62 percent to 46 million by 2017.

Countries that are likely to see the largest rises in the number of millionaires by 2017 include Brazil (119 percent to 497,000) and Russia (109 percent to 203,000). In terms of the rate of growth, Poland comes in fourth, behind Malaysia, where the number of millionaires is expected to grow by 108 percent to 75,000.

The report shows that the number of rich people will increase the fastest in emerging market economies, which have a big gap to bridge to catch up with developed economies. For example, in the United States and France, the number of millionaires is expected to reach nearly 17 million and 3.5 million respectively by 2017, which in both cases means an increase of about 50 percent.

However, the report also points to a disturbing trend. Even though the number of millionaires is increasing, the average household is getting poorer. The total value of household wealth worldwide fell this year by 5.2 percent to $223 billion. This applies to all the continents except North America where households increased their wealth by 1.3 percent in 2012, and the value of their property increased by $882 billion. In Europe, which has been the most affected by the crisis, household wealth fell by $10.9 trillion, or 13.6 percent, in 2011-2012.
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