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The Warsaw Voice » Business » November 28, 2013
Business & Economy
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More Millionaires
November 28, 2013   
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Global wealth has hit a record $241 trillion, more than doubling since 2000, according to analysts at Swiss bank Credit Suisse.

However, 46 percent of the money is in the hands of less than 1 percent of the world’s population, the bank’s annual Global Wealth Report says. The growth in global wealth is the result of factors including dynamic growth in emerging economies and a significant increase in the number of people living in developing countries, says the report, which was released in late October. Only in the past year, global wealth has grown by 4.9 percent.

Switzerland topped the list of average wealth per adult, totaling $513,000, followed by Australia and Norway at $403,000 and $380,000 respectively, according to Credit Suisse. The world average is $51,600. The most millionaires live in the United States, France and Germany, 13.2 million, 2.2 million and 1.7 million respectively. Poland, with 45,000 dollar millionaires, is in 13th place worldwide, but first in terms of the projected increase in the number of millionaires. By 2018 the number of dollar millionaires in Poland is expected to soar by 89 percent to 85,000, ahead of China with 88 percent, Brazil with 84 percent, and South Korea with 79 percent.

The world’s largest economies, such as the United States, France and Germany, are expected to see an around 50 percent increase in the number of millionaires.

In terms of geographic regions, North America has the most millionaires at 14.2 million, and Europe has 10.2 million, while the lowest number is noted in Africa, at 90,000. In North America and Europe, the number of millionaires is expected to increase by 41 percent and 47 percent respectively over the next five years. Global wealth is expected to grow by about 40 percent to $334 trillion over that time, Credit Suisse says.
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