SINGAPORE — Wealth in Asia-Pacific grew faster than in other regions around the world in 2009, according to a new global study.
The region, excluding Japan, added 22%, or US$3.1 trillion, to its coffers from the end of 2007, a study conducted by US-based business advisory firm Boston Consulting Group (BCG) stated.
“That was nearly double the global rate,” the report, released on Friday, said.
Latin American wealth grew second-fastest, registering a 16% rise.
The Asia-Pacific’s pace of wealth growth trumped North America, which had the largest global absolute rise at US$4.6 trillion (15%).
Wealth is also tipped to grow in the Asia-Pacific at a faster rate than its global counterparts in the next four years, said BCG partner Tjun Tang.
“We expect Asia-Pacific, excluding Japan, to grow at nearly twice the global rate, raising its share of global wealth from 15% in 2009 to almost 20% in 2014,” the coauthor of the report said.
Globally, wealth increased by 11.5% to US$111.5 trillion, just short of the year-end peak reached in 2007, with BCG projecting global wealth to grow at an average annual rate of nearly 6% to 2014.
North America accounted for about 40% of the increase in global wealth in 2009, reaching US$35.1 trillion last year.
The number of millionaire households worldwide also rose almost 14% to 11.2 million, with Singapore and Malaysia leading the pack, BCG said.
“Singapore saw the highest growth in millionaire households, up 35%, followed by 33% for Malaysia, 32% for Slovakia, and 31% for China.” — AFP
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against
Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
