Japan has second most millionaires in world

8 years ago by in Travel

Total wealth slightly declined in Japan (0.2 percent) in 2010, to $16.8 trillion, according to a global study by the Boston Consulting Group, a global management consulting firm and business strategy adviser.

Starting 2008, Japan has weakened its position as an Asia-Pacific leader. In 2008, it accounted for more than half of all the wealth in the region, while in 2010 it only had around 44 percent.

Japan is still well-positioned among the countries with the most millionaire households, on the second position at a global level. U.S. is by far the nation with the most (5.2 million), followed by Japan, China, the U.K. and Germany.

For Japan, it will be worse before getting better. The amount of wealth is expected to drop slightly in 2011, but then a slow growth should follow for several years. The study concludes that the impact of the recent natural disasters is still unclear, but “it could put further stress” on the wealth growth in Japan.

At a global level, total wealth registered a solid 8 percent growth in 2010, to $121.8 trillion, a $9 trillion increase. The nations that registered the largest absolute gains in wealth in 2010 were the U.S., China, the U.K. and India.

The strongest reason for the 2010 growth is the performance of financial markets, which generated 59 percent of the global advance. [BCG] Photo by dps