High Networth Individuals(HNI) or Millionaire lists always grabs my attention any time of the year. Because, I am interested to see who made to the list and get inspired so I can make to the list one day.
I read the below interesting article from Trak.in about the India’s Millionaires count doubling in the last year. A developing nation where millions of people still live under poverty line but can still produce more HNI every year only proves the point that Rich are getting rich more and Poor are getting more poorer. The gap is widening and there is no solution on the sight to bridge it. I thought may be you guys would be interested, so posting with the persmission from Trak.in editor. Read on…
India Doubles its Millionaires!According to the World Wealth Report recently released by Capgemini and Merrill Lynch Wealth Management, most countries in the world have increased their HNI (High Net-Worth Individuals) count. While, India has more than doubled it – maximum compared to any other country in the world.
Indian HNI growth (past 5 years) | |||
Year of report | India | Asia-Pacific | World |
2005 | 70,000 | 2.3 mn | 8.3 mn |
2006 | 83,000 | 2.4 mn | 8.7 mn |
2007 | 1,00,015 | 2.6 mn | 9.5 mn |
2008 | 1,23,000 | 2.8 mn | 10.1 mn |
2009 | 84,000 | 2.4 mn | 8.6 mn |
2010 | 1,26,700 | 3 mn | 10 mn |
Source: Capgemini, Merrill Lynch Wealth Management |
In 08-09, India had 84,000 HNI’s which grew by 50.9% to take to the number to 1,26,700 HNI Indians !
In Asia Pacific region, Hong Kong saw the maximum rise with 105% growth in number of HNIs followed by India (50.9%) and China (31%).
I think one of the main reasons for such kind of growth in India is appreciation of stock market in India. The market capitalization increased 103 per cent in 2009, compared to a dip of 64 per cent in 2008.
Here are some of the highlights of the Report
- The world’s population of high net worth individuals (HNWIs) grew 17.1% to 10.0 million in 2009.
- The world’s population of high net worth individuals (HNWIs) returned to 10 million in 2009, increasing by 17.1% over 2008.
- HNWI financial wealth increased 18.9% from 2008 levels to $39 trillion. After losing 24.0% in 2008, Ultra-HNWIs saw wealth rebound 21.5% in 2009.Ultra-HNWIs increased their wealth by 21.5% in 2009.
- In terms of the total Global HNWI population remains highly concentrated with the U.S, Japan and Germany accounting for 53.5% of the world’s HNWI population, down slightly from 2008.
- The Asia-Pacific HNWI population rose 25.8% overall to 3.0 million, catching up with Europe for the first time.
- The Asia-Pacific region was home to eight of the world’s ten fastest-growing HNWI populations, led by Hong Kong (104.4%) and India (50.9%).
- Asia-Pacific HNWI wealth surged 30.9% to $9.7 trillion, more than erasing 2008 losses and surpassing the $9.5 trillion in wealth held by Europe’s HNWIs in 2009.
- In India, real GDP growth increased to 6.8% in 2009 from 6.1% in 2008.
- Market capitalization in India and China almost doubled