An article in today's issue of China Daily describes the relatively high degree of growth in Asian millionaires. According to the article, Asia's economic growth helped 200,000 people enter the millionaire club in 2006. The number of people worth at least a million US dollars in the Asia-Pacific region increased by 8.6% in 2006 to 2.6 million, constituting 27% of the world's millionaires according to a study by Merrill Lynch & Co. Inc.
Overall, the wealth of Asian millionaires was $8.4 trillion, with Japan accounting for 43% and China about 20%. Of course a million ain't worth what it used to be so for those of you who aren't impressed, the Asian region's share of super-rich (with assets over $30 million) increased by 12.2% to 17,500, exceeding the global rate of 11.3%.
What does all this mean? I don't know for sure, but it seems to be another of many indications that Asia is experiencing greater economic growth than the rest of the world. Also, maybe it means I should move here permanently to have better odds of becoming a millionaire.
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