Economics
Asian Millionaires Counter Lost Riches in Europe, North America
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China, India and Singapore posted the biggest increases in millionaires last year as the Asia-Pacific region countered a decline in wealth in western Europe and the U.S., according to Boston Consulting Group.
Millionaire households in China rose 16 percent to 1.43 million while those in Singapore climbed 14 percent to 188,000 and India saw a 21 percent increase to 162,000, the Boston-based firm said in a report released today. Millionaire households in the U.S. fell by 129,000 to 5.13 million.