4-Jun-2011 | 11:35 hrs IST | Edited by: Tanusree Pal

According to the management consulting firm Boston Consulting Group (BCG), India has emerged among the four fastest wealth creator countries in the world and will grow at a fastest rate in future.

Along with India, the BCG firm has listed the US, China & the UK as the nations showing the largest absolute gains in wealth in 2010 in their 11^th Annual Global Wealth Report.

Other findings in the report are as follows:

• Growth in every region has resulted in a continued solid recovery of global wealth in 2010. The global wealth has increased to a record of $121.8 trillion in 2010, about $20 trillion above the level in 2008.
• During 2010- 15, the global wealth is expected to grow at a compound annual rate of 5.9% to about $162 trillion because of the performance of capital markets and the growth of GDP in countries around the world.
• The wealth of India & China is expected to increase at a compound annual rate of 18 % and 14%, respectively.
• Excluding Japan, the Asia-Pacific region's share of global wealth was projected to rise from 18% in 2010 to 23% in 2015. The amount of wealth of Japan is expected to decrease slightly in 2011 and will recover slowly.
• Millionaire households have increased by 12.2% to about 12.5 million in 2010.
• The most millionaire households was found in the US (5.2 million), followed by Japan, China, the UK, and Germany. (see Chart Number of Millionaire Households)
• Singapore continued to have the highest concentration of millionaire households, with 15.5 % of all households having at least $1 million in AuM.
• Switzerland had the highest concentration of millionaire households in Europe and the 2^nd highest overall at 9.9 %
• In the Middle East, the top 3 densest millionaire populations were in Qatar, Kuwait, and the United Arab Emirates.
• The proportion of wealth owned by millionaire households increased the most in Asia-Pacific, at 2.9 %, followed by North America, at 1.3 %.
• The United States had the largest number of ultra-high-net-worth (UHNW) households with 2,692 numbers of households while Saudi Arabia had the highest concentration of UHNW households, measured per 100,000 households. An UHNW household is defined as those with more than $ 100 million in assets. (see Chart UHHN Concentration) 
• China experienced the fastest growth in the number of super-wealthy households, increased by more than 30 % to 393.
• From the end of year 2008 through 2010, the share of wealth held in equities has increased from 29% to 35%. This is due to the strong performance of the financial markets which accounted for 59% of the growth in assets under management.
• The amount of offshore wealth, defined as assets booked in a country where the investor has no legal residence or tax domicile, increased to $7.8 trillion in 2010, up from $7.5 trillion in 2009. However, the percentage of wealth held offshore slipped to 6.4 % in 2010 from 6.6 % in 2009.
• North America had the largest absolute gain of any regional wealth market in assets under management (AuM), at $3.6 trillion, nearly 1/3^rd share of global wealth.
• In Europe, wealth grew at a below-average rate of 4.8 %, a gain of $1.7 trillion in AuM.
• The 3 regions namely Asia-Pacific (excluding Japan), the Middle East and Africa accounted for 24.4 % of global wealth in 2010 compared to 20.9 % in 2008. (see Chart Rate of Growth of Wealth in 2010)
• Wealth declined by 0.2 % in the Japanese market to $16.8 trillion. In 2010, Japan accounted for about 44 % shares in the Asia-Pacific's wealth.
• In terms of individual countries, the nations showing the largest absolute gains in wealth were the United States, China, the United Kingdom, and India.

Global wealth is defined as total assets under management (AuM) across all households which includes 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, or luxury goods. Unless stated otherwise, AuM figures and percentage changes are based on local AuM totals that were converted to U.S. dollars using a constant year-end 2010 exchange rate for all years. This approach excludes the effects of fluctuating exchange rates.

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