Sunday, 19 November, 2017

Where are you in India's wealth distribution?

The annual Monaco Yacht Show is a chance for millionaires and billionaires to lighten the wallet The annual Monaco Yacht Show is a chance for millionaires and billionaires to lighten the wallet. Lionel Cironneau
Laurie Berry | 15 November, 2017, 11:08

Credit Suisse says emerging economies are expected to generate wealth at a faster pace than their developed counterparts and are likely to achieve a 22 percent share in global wealth at the end of the next five-year period.

"While wealth has been rising in India, not everyone has shared in this growth". The rise in global wealth reflected widespread gains in equity markets and similar rises in non-financial assets.

According to the Credit Suisse report on Millennials, they have found a "Millennial disadvantage".

According to the report, personal wealth in India is dominated by property and other real assets, which make up 86 per cent of estimated household assets.

For example, it found, "Most Chinese adults are found in the upper middle section of global wealth distribution", with the country accounting for 9 percent of the top tenth of the global population by wealth. Traders in online chat rooms also colluded with other banks, seeking to "diminish competition" and "reap higher profits from the execution of FX trades at customers' expense", the DFS order said.

And when it comes to millionaires, Credit Suisse showed that millionaires (dollar-based) were up by 2.3 million through the middle of 2017, and almost half of them live in the United States.

Cech: Sp*rs need to win trophies to show progress
"Our target is to win the title and be successful during the season, not necessarily looking at what Tottenham are doing". On Pochettino, he added: "He has given stability not only to me but to the whole club".

The gaping inequality has resulted in a huge rise in the number of millionaires and ultra-high-net-worth individuals (those worth more than $40 million).

The report showed that there are now more than 36 million global millionaires in dollar terms. Most of these influences have been positive during past 12 months, including in India, where market capitalisation rose by close to 30 per cent, house prices by around 10 per cent, while Indian rupee rose 4 per cent against the United States dollar.

A decade on from the onset of the global financial crisis, global wealth has grown by 27 percent, this according to Credit Suisse Research Institute's 2017 Global Wealth Report.

"However, $76,754 is required to be a member of the top 10 percent of global wealth holders, and $770,368 to belong to the top 1 percent".

The UK has the third highest number of millionaires - 6 per cent of the total.

This report was the eighth such annual report out of Credit Suisse, and the firm measures roughly 4.8 billion adults over approximately 200 countries for its data.

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