Sunday, May 20, 2018

India sixth wealthiest nation with $8,230 bn, China three times richer

India is the sixth wealthiest country in the world with a total of $8,230 billion, while the US is the richest nation globally, says a report.
According to the Global Migration Review, the US is the wealthiest country in the world with a total of $62,584 billion, followed by ($24,803 billion) at the second place and ($19,522 billion) at the third place.
Total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets (property, cash, equities, business interests) less any liabilities. We exclude government funds from our figures. Larger countries have an advantage due to higher populations.
Other countries in the top 10 wealthiest list includes the UK ($9,919 billion), ($9,660 billion), ($8,230 billion), ($6,142 billion), ($6,393 billion), ($6,649 billion) and ($4,276 billion).
Factors that will help in wealth creation in include, large number of entrepreneurs, good educational system, robust outlook for IT, business process outsourcing, real estate, and which will result in a 200 per cent rise 10-year wealth growth forecast, according to the report.
In the coming decade, is expected to witness a significant rise in total wealth to $69,449 billion by 2027, while wealth of the US would be around $75,101 billion.
Globally, the total private wealth held worldwide amounts to around $215 trillion and there are around 15.2 million HNWIs in the world, each with net assets of $1 million or more.
There are about 584,000 multi-millionaires in the world, each with net assets of $10 million or more and 2,252 billionaires in the world, each with net assets of $1 billion or more, the report added.
Over the next 10 years, is expected to overtake and gain significant ground on and the UK. While, India will overtake and the UK to become the 4th largest wealth market worldwide by 2027.
Global wealth is expected to rise by 50 per cent over the next decade, reaching $321 trillion by 2027. The fastest growing wealth markets are expected to be Sri Lanka, India, Vietnam, China, Mauritius, the report said.

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