{"id":13250,"date":"2012-06-01T18:06:59","date_gmt":"2012-06-01T18:06:59","guid":{"rendered":""},"modified":"2012-06-01T18:06:59","modified_gmt":"2012-06-01T18:06:59","slug":"Millionaires-decline-in-the-US-Asia-takes-over","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=13250","title":{"rendered":"Millionaires decline in the US, Asia takes over"},"content":{"rendered":"

The number of millionaires is on the decline in the United States, even as the number of wealthy individuals has increased worldwide.<\/strong>
\n
\nMillionaire households in the United States decreased by 129,000 in 2011<\/strong>, according to a new study from the Boston Consulting Group. Globally, that figure grew by 175,000. The report defines these households as having over $1 million in cash, stock and other assets, excluding property, businesses and luxury goods.<\/p>\n

Singapore has the highest proportion of millionaires in the world; 17% of all households in the Asian city-state have wealth of over $1 million.<\/strong> By comparison, 4.3% of households in the United States had wealth of over $1 million, which ranks it 7th in the world.<\/p>\n

The United States also lagged when it came to the proportion of “ultra-high-net-worth” households<\/strong>, defined by the Boston Consulting Group as those with more than $100 million in wealth.<\/p>\n

Switzerland topped the list with 11 in every 100,000 households qualifying as “ultra-high-net-worth,” followed by Singapore with 10 in every 100,000 households.<\/p>\n

The United States didn’t make the top 15<\/strong>, the report said.<\/p>\n

Across Asia-Pacific nations<\/strong>, excluding Japan, wealth increased by 10.7% to $23.7 trillion<\/strong>, while it declined by 0.9% to $38 trillion in North America.<\/p>\n

The group expects to see more of the mega-rich crop up across Asia in the near future.<\/strong><\/p>\n

“Wealth in the region is expected to continue to grow at a double-digit rate… reaching $40.1 trillion by the end of 2016, at which time it will have slightly overtaken Western and Eastern Europe combined.”<\/strong><\/p>\n

What does that tell you? What is happening to the land of opportunity and the “American Dream”?<\/strong><\/p>\n

Source www.CNN.com<\/em>
\n<\/p>\n","protected":false},"excerpt":{"rendered":"

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