Registered: Aug 2006
01-30-12 01:18 PM
Quote from def:
I believe you are referring to a Citibank study that quotes HK dollars and not US dollars.
I dont know about the Citibank study. I read this, apparently its from a Boston Consulting group report. It should be in USD, it wouldnt make sense either-wise.
That's according to a new report, The Boston Consulting Group's Global Wealth 2010 Report, released Thursday by Boston Consulting Group. The report breaks down wealth by region and by country, creating a geographic portrait of where the world's wealth is accumulating and at what rate.
In fact, you're more likely to find those conditions in Singapore, which had the highest percentage of millionaire households in the world.
Yes, that puts Singapore at the top of Boston Consulting Group list of the top 10 countries with the greatest proportion of millionaire households. You may be surprised by the full run-down:
Population: 4.7 million
Percentage of Millionaire Households: 11.4%
Who would think the tiny Republic of Singapore would be crammed with so many millionaires? The country, all of just 247 square miles, has emerged from the recession and has rebounded in a big way. Its GDP, exports and manufacturing are all rising, and so, too, are home prices. That has led Singapore to boast the highest concentration of millionaires anywhere on the planet. Among its very rich: Ng Teng Fong, a real estate tycoon, and Wee Cho Yaw, who runs United Overseas Bank, one of Singapore's big lenders.
2) Hong Kong
Population: 7.1 million
Percentage of Millionaire Households: 8.8%
Hong Kong, the home of Li Ka-shing, who runs conglomerates Cheung Kong and Hutchison Whampoa, had 205,000 millionaire households in 2009 and takes the number two spot for percentage of millionaire households. Hong Kong's close relationship with mainland China brings benefits and risks, but it's been good for many of the wealthiest, who made their money by investing in a real estate market that has no shortage of swanky hotels and malls.