World’s wealth declined by 11 percent, millionaires also
Global recession in 2008 led to the first reduction in global assets under management by almost a decade, a study shows that the world’s wealth has fallen by 11.7 percent to 92.4 trillion. dollars, informs Reuters.
Return to 2007 levels would take six years, according to the study of the Boston Consulting Group (BCG), which focuses on industry to manage assets.
North America and especially the U.S. are most affected, as reported 21.8-percentage decline in assets under management to 29.3 trillion. dollars. Decrease is mainly due to the decline in the price of state shares in 2008
Oshfornite control centers of wealth, such as Switzerland and the Caribbean are also seriously affected. There reduce assets under management to 6.7 trillion. dollars in 2008 compared by 7.3 trillion. dollars in 2007, a drop of 8%.
The survey shows that assets under management will be returned to its level of 108.5 trillion. dollars in 2007 to 2013.
Assets under management in Europe amounted to 32.7 trillion. dollar and the old continent ahead of North America, the richest region, although the total wealth in the region fell by 5.8 percent.
Latin America is the only region that recorded a growth of assets under management which increased by 3 percent from 2.4 trillion. dollars in 2007 to 2.5 trillion. dollars in 2008
Contraction of the economy is adversely affected and the millionaires who had made risky investments during the economic boom.
The number of millionaires worldwide has decreased by 17.8%, to 9 million, according to the study of BCG.
Europe and North America were most affected in this regard, given a drop from 22%. In the United States still has 3.9 million millionaires – most in the world.
Singapore can boast the most millionaires per capita – 8.5%. For comparison, in Switzerland they are 6.6%, 5.1% in Kuwait, the United Arab Emirates 4.5%, and 3.5 percent in the United States.