What: AfrAsia Bank Global Wealth Migration Review
Who: US the wealthiest country
How many: Global wealth 215 trillion US Dollars
- According to the AfrAsia Bank Global Wealth Migration Review, India is the sixth wealthiest country in the world with a total wealth of 8,230 billion US dollars.
- The US is the wealthiest country in the world with a total wealth of 62,584 billion dollars.
- China is at the second place with 24,803 billion dollars, while Japan stood third place with 19,522 billion dollars.
- Other countries in the top 10 wealthiest list include the UK, Germany, India, Australia, Canada, France and Italy.
- The report also say that factors that will help in wealth creation in India include, large number of entrepreneurs, good educational system, robust outlook for IT, business process outsourcing, real estate, healthcare and media sectors which will result in a 200 percent rise in wealth in 10 years.
Total private wealth held worldwide
- The total private wealth held worldwide amounts to around 215 trillion US Dollars.
- The report says that there are about 5.84 lakh multi-millionaires in the world, each with net assets of 10 million dollars or more and 2,252 billionaires, each with net assets of 1 billion dollars or more.
- It also says that global wealth is expected to rise by 50 percent over the next decade, reaching 321 trillion dollars by 2027.
- The fastest growing wealth markets are expected to be India, Sri Lanka, Vietnam, China, Mauritius.
What is total wealth
- As per the report, total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets less any liabilities but government funds are excluded from it.
- The report says that larger countries have an advantage due to higher populations.
