Repost from South China Morning Post Economy | September 26, 2013
The rich and famous in the Asia Pacific region would outpace the North American counterparts. The crown was taken last year from AP after the growth of equity markets in North America. North American networth stands at $12.7 trillion vs Asia Pacific which stands at 12.0 trillion.
Asia has 3.68 million high networth individuals vs North America's 3.73 million. The growth of networth of Asian rich would grow by 9.8% surpassing the networth of Americans. AP networth would be $15.9 vs $15 million of North America. This has something to do with GDP growth which is an average 6.6 for this year and 6.8 for next. For America this only 2.5 and 3.2% next year.
Asians seek more real estate as investments. And have different investment preferences compared to Americans
From Financial News
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