Tuesday, June 7, 2016

Still more millionaires in the world – The World

Le Monde | • Updated | By

despite the crisis, the rich are getting richer, while their fortunes grew a little slower in 2015 than in previous years, and the number of millionaires continues to advance. Such, in substance, the conclusions of the report in 2016 on the global household wealth, released Tuesday, 7 June by the Boston Consulting Group (BCG), a US consulting firm strategy.

The report reveals that “private global wealth” , that is to say, the household financial assets excluding property – bank savings (accounts, booklets, etc.), financial savings (shares, bonds, etc.) and life insurance – stood at 167,800 billion (147,720 billion) in 2015, up 5.2% year on year. This is less than the increase recorded in 2014 (+ 7.5%).

In detail, and not surprisingly, the strongest increase was recorded in Asia Pacific (+ 13.4 % in 2015), an economic zone in full development. The growth has however slowed in North America (+ 1.8% in 2015 after 6.4% in 2014) and in Western Europe (+ 4.3% in 2015 after + 6.1%). “The uncertainty over the future of the European Union and the persistently low commodity prices weighed on equity markets despite the promising start to the year,” says the report.

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These figures are still much higher than the growth of gross domestic product (GDP) recorded in the same period in these regions: 2.4% in 2015 in the US and 1.7% in the eurozone. North America ranks ahead in the ranking of the world’s regions most concealing of rich households and is likely to stay in 2020. The number two spot, now occupied by the Eastern Europe West, could return to the Asia Pacific region in 2020.

in addition, not only the crisis has spared millionaires, but they are still doing better and are especially more numerous: they are 6% more than in 2015, according to BCG. These millionaires now own 47% of private global wealth – a share that is expected to exceed 50% in 2020, says the firm

The always healthy tax havens

in detail, it is the wealth of the wealthiest households (over 100 million), which has increased the most in 2015 (+ 10%), particularly in the Asia-Pacific region (+ 16 %). The number of multimillionaires has exploded in India and China. But, not surprisingly again, the highest concentration of millionaires is always saved … in Liechtenstein and Switzerland.



the report also looks at the “wealth offshore” household, that is to say one placed outside their country of origin or mainly in states or territories with diets favorable tax (UK, Switzerland, Singapore, Panama, etc.). ORO estimated at 10,000 billion in 2015, up 3% year on year, which shows in particular that tax havens continue to do well.

Read also: Five EU countries want G20 blacklist of tax havens

But, due to the beginning of “repatriation of overseas assets by investors from developed countries” , the offshore wealth of North Americans, Western Europeans and Japanese fell 3% last year. It continues however to increase for citizens of emerging countries …

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