Deloitte Predicts Great Things for the Wealthy
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Deloitte, the largest private professional services organization in the world, has carried out a survey among millionaires in 25 different countries to determine how many new wealthy people will emerge in the following years. The results are quite interesting and we are happy to share them with you.
By 2020, the value of private and public investments controlled by wealthy families are expected to more than double, which means that from the current value of $92 trillion, it will raise to at least $202 trillion in less than a decade.
Also, the number of millionaires (families with a wealth of more than one million dollars) will increase by two thirds in the developed world and will double in countries like India, Russia, Brazil or China. These countries (with emerging markets) are “producing” millionaires at a higher rate than countries with established markets, due to commodity prices, economic expansion and other factors. However, most of the millionaires of the world will still be found in Europe and the United States, as Deloitte predicts.
The future sounds particularly good for India, where in a few years the average millionaire will be wealthier than the average American millionaire. China is also heading towards a bright future, as it is expected to soon become one of the world’s ten richest economies.
The fastest growing rate of millionaires in developed countries are registered in Singapore and Australia, while the U.S. will most probably remain the place where most millionaires exist: by 2020, their number is expected to double to 20 million households.