India to Have Second-Largest Number of Millionaires in Asia in Four Years

From bloomberg.com

China’s millionaires will account for about half of Asia’s rich and hold more than half of the region’s wealth by 2015, according to a study by Julius Baer Group and CLSA Asia Pacific Markets. Asia’s millionaires will more than double in number to 2.8 million, with 1.4 million high net worth people in China, according to the Asia Wealth Report released yesterday. Chinese millionaires will hold $8.76 trillion of the $15.81 trillion that the region’s millionaires are expected to have, it said. “In terms of the overall amounts of wealth that will increase, it’s very much a China story,” Stefan Hofer, ... (full story)