Are you the lucky 1%?

A recent BCG (Boston Consulting Group) report indicates the highest millionaire densities are in Singapore, Hong Kong, Switzerland & the Middle East (in this order).

Millionaire households account for less than 1% of the world’s total household, yet controlling 38% of the world’s total wealth. Global wealth increased 11.5% to USD111.5 trillion, just short of 2007 levels.

Countries with the most millionaire households are in the following order:

Country	Population	No. of Millionaire Households	% of Country’s Wealth	% of Country’s Household
USA	310Mn	4.7Mn	56%	4.1%
Japan	128Mn	1.2Mn	21%
China	1,331Mn	670k	50%
UK	62Mn	485k	23%
Germany	82Mn	430k	22%
Italy	60Mn	300k	27%
Switzerland	7.8Mn	283k	44%	8.4%
France	63Mn	280k	19%
Taiwan	23Mn	230k	37%	3.0%
Hong Kong	7Mn	205k	73%	8.8%

As a Hong Kong person, I’m proud that we made another world’s top 10. Yet, it doesn’t sound right that 8.8% of our households control 73% of the territory’s wealth. Alas, in our motherland China, the mis-proportion is even more dismal.

(source: BCG report, June 2010)