Tuesday, September 15, 2009

World has 9 Million Millionaries, Assets Under Management Fall to $92.4T

BCG, Boston Consulting Group, says that global assets under management fell to USD $92.4T (-11.7%), the first worldwide contraction in a decade.

Moreover, they say that a return to 2007 levels ($108T) will take six years.

The biggest decliner in terms of geographical regions was North America, particularly the U.S., with -21.8% ($29.3T).

According to BCG, Europe is now the wealthiest region with $32.7T of assets under management (-5.8%).

The only positive region was Latin America with +3% gain to $2.5T.

The number of millionaires is down by nearly 18%, to 9 million.
The U.S. has 3.9 million millionaires.

In terms of percentage of millionaries compared to the overall country population, Singapore is on top:

- Singapore: 8.5% of the population
- Switzerland: 6.6%
- United Arab Emirates: 4.5%
- U.S., at 3.5%.

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