Asia will probably go beyond West in numbers of riches within a few years
As the economy in the western sector is coming into another round of financial bad times, Asian economies are supposed to be carrying out nicely, when the variety of new millionaires within the Asian economy is any signal. The burden of the world economy appeared to be shifting from the West on the way to the Asian nations.
Based on research issued by the Boston Consulting Group, India, Singapore and China have seen the most significant jump in the number of riches in the Asia Pacific zone. At that time, it is discovered that there is a fall in assets in the Unites states combined with Western European nations.
Across China the amount of money barons have increased by 16% to 1.43 million. Within the nearby country of Singapore, the figure increased to fourteen percent and touched 188,000. The most increase in the numbers of has been noticed in India and the statistics stands at 162,000 - a crisp and clean growth of 21% than the former year. Throughout this matching period of time, the number of millionaire barons in the US decreased by 129,000 and touched 5.13 million. If the ratio of millionaire homes is regarded, Singapore has got the biggest share even though Hong Kong takes the lead for the highest amount of billionaires.

On the whole, money has gone down in the West mainly because of the financial debt crisis in Europe and the downward trend of stock trading in the several countries. At the same time, the Asia Pacific province, except Japan recorded a gain of riches by 11% to $23.7 trillion and additionally whenever this remains, it is most likely to surpass the private wealth in the US and European zones. In accordance with the Boston consulting group, individual assets of common people is expected to go up by 15 and 19% per year and this growth may go on right until 2016. If this continues, perhaps it is the latest trend in the sector of international finance.


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