These may still be tough times for most Americans, but more than 5.2 million households in the U.S. boast assets under management of at least $1 million, with more added each day. Wealth is not growing merely in the U.S. A new report by Boston Consulting Group
shows that global wealth increased by 8 percent last year to reach a record $121.8 trillion. Worldwide, the number of millionaire households grew in 2010 by 12.2 percent, to 12.5 million. That adds up to 0.9 percent of the world's total households, according to BCG's study, which looked at 62 markets that include more than 98 percent of global gross domestic product. The U.S. still ranks as the country with the most millionaires per capita but lags other countries in terms of the proportion of millionaire households by market.
The world's affluent also increased their share of total wealth: Millionaire households accounted for 39 percent of global wealth in 2010, up from 37 percent in 2009 and 36 percent in 2008, according to BCG. While governments struggle with budgets, the report states, "global wealth is expected to increase at an annual rate of nearly 6 percent over the next several years, with exceptional growth in emerging markets."
to see which countries have the highest density of millionaire households.Note: Millionaire households were counted based on assets under management, including cash deposits, money market funds, listed securities held directly or indirectly through managed investments, and onshore and offshore assets. It excludes wealth attributed to investors' own businesses, residences, and luxury goods.