Asia-Pacific Wealth Exceeds North America's for First Time
- China, Japan helped boost Asia riches in 2015, Cap Gemini says
- World wealth seen advancing 81% to $106 trillion by 2025
A woman sweeps leaves in front of a new Ferrari 458 Italia in Beijing on October 28, 2011. The head of the European bail-out fund dampened hopes October 28 that China Would come to a debt-stricken EU's rescue, but left the door open for a deal with the world's second-biggest economy. AFP PHOTO / Peter PARKS (Photo credit should read PETER PARKS/AFP/Getty Images)
Photographer: Peter Parks/AFP via Getty ImagesPrivate wealth in the Asia-Pacific region surpassed that of North America for the first time last year, fueled by stronger economies and real estate markets, according to a Cap Gemini SA report.
Millionaires’ assets in Asia-Pacific countries surged almost 10 percent to $17.4 trillion, outstripping North America’s $16.6 trillion, Cap Gemini said on Thursday. European wealth rose 4.8 percent to $13.6 trillion, while Latin America and Africa declined, the Paris-based consulting firm said. Global wealth advanced 4 percent to $58.7 trillion.