Asia is forecast overtake North America in wealth stakes

Millionaires in Asia will soon surpass the number of their counterparts in North America. Millionaires in Asia will soon surpass the number of their counterparts in North America.

The fact that Asia will soon surpass North America in the number of millionaires should come as little surprise. Nations of the far east remain among the fastest growing worldwide. As the region’s economies develop, the number of millionaires can be expected to grow in tandem. This is especially true of China, which now boasts the world’s second largest economy, one that will soon outstrip the U.S. in size.

—Warren S. Hersch
Asia is close to overtaking North America in the global wealth stakes, as the number of millionaires living there continues to grow faster than anywhere else in the world. Millionaires based in the region rose by 17.3 per cent in 2013, taking the total to 4.32 million -- just 10,000 behind those living in the U.S.

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