Out With the Old, In With the New
Millionaires of the old world, make way for the new rich. According to a global wealth report just released by the Boston Consulting Group, "The Battle to Regain Strength", the Asia-Pacific region posted the biggest increase in millionaire households. Private wealth in that region (not including Japan) increased by 10.7 percent in 2011 to $23.7 trillion. That countered a wealth decline in Western Europe (due partly to the European debt crisis), where private wealth fell by 0.4 percent to $33.5 trillion. North America's combined fortunes also declined -- by 0.9 percent to $38 trillion. In the slides that follow, you'll find the world's top 15 countries for millionaires, ranked by the proportion of households with a million dollars or more in assets.