(Reuters) - As Asian economies grow in coming years, the world's wealthy are expected to start shifting their money to the region from North America and Europe, according to a recent survey by Merrill Lynch/Capgemini.
The wealth of millionaires in Asia is also expected to grow by 6.7 percent a year through 2010, compared with a global average of 6 percent.
Below are some facts about Asia's asset management market.
THE WEALTHY IN NUMBERS
-- In 2005, the Asia-Pacific region had 2.4 million high-net-worth individuals -- people with more than $1 million in financial assets excluding their homes - with total financial wealth of $7.6 trillion, a survey by Merrill Lynch and consultants Capgemini showed.
--Globally, there were 8.7 million millionaires, worth $33.3 trillion.
-- China had 320,000 wealthy individuals in 2005, compared with India's 83,000. In 2005, the number of wealthy grew fastest in South Korea (21.3 percent) and India (19.3 percent).
-- In Asia, 16,800 people are included in the ranks of ultra-rich, those with more than $30 million in financial assets. That made up about one-fifth of the world's ultra-rich.
Source: Merrill/Capgemini survey Continued...
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