Marketplace Logo Donate

Daily business news and economic stories from Marketplace

Global wealth makes a big comeback in 2009

Subscribe to our Newsletters

A report from the Boston Consulting Group’s Global Wealth 2010 Report says global wealth made a big comeback in 2009 after a big decline in 2008. The survey says the number of millionaire households rose by about 14 percent in 2009 to 11.2 million, close to where it stood in 2007.

In 2008, the number of millionaire households fell about 14 percent to 9.8 million.

But things aren’t all rosy for wealth managers. From the report:

For many wealth managers, however, the recovery did not translate into stronger performance. Participants in a benchmarking study experienced falling revenues, narrower revenue margins, and rising cost-to-income ratios, despite the growth in assets under management.

The report says, “Millionaire households represented less than 1 percent of all households, but owned about 38 percent of the world’s wealth, up from about 36 percent in 2008.”

Other key findings:

Though the U.S. has the most millionaire households, the countries with the greatest proportion of millionaire households are:

  1. Singapore
  2. Hong Kong
  3. Switzerland
  4. Kuwait
  5. Qatar
  6. United Arab Emirates
  7. U.S.
  8. Belgium
  9. Israel
  10. Taiwan

A PDF copy of the report’s executive summary can be found here.

What's Next

Latest Episodes From Our Shows

Listen
4:33 PM PDT
28:34
Listen
4:21 PM PDT
27:06
Listen
1:37 PM PDT
1:50
Listen
7:37 AM PDT
6:54
Listen
Sep 27, 2022
7:59
Listen
Jul 7, 2022
30:13
Listen
Aug 9, 2022
24:46
Exit mobile version