Gulf states dominate world millionaires list
By staff - Wed Jun 13, 4:58 am
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The percentage of millionaire households in most Gulf countries is amongst the highest in the world, a new study from leading global management consulting firm Boston Consulting Group (BCG) revealed.
Qatar, Kuwait, the UAE, Bahrain and Oman feature among the top 15 countries globally in 2011 by proportion of millionaire households, the report said.
Qatar placed second worldwide with more than 14 millionaire households per 100.
The report says that the highest density of millionaire households last year was in Singapore, where more than 17% of all households have private wealth of $1 million or higher.
Kuwait was third with 11.8 percent of its households holding more than $1million in personal wealth.
The UAE was sixth (5 percent), Bahrain was 10th (3.2 percent) and Oman was 13th (2.5 percent), the BCG report said.
Gulf nations also featured prominently in the list of ultra-high-net-worth (UHNW) households.
Kuwait and Qatar had six UHNW households and UAE had four, placing them in the top 10 countries worldwide, the BCG study showed.
Switzerland tops the list with 11 households per 100,000 holding more than $100 million in personal wealth.
Top 15 in millionaire households (%)
- Singapore (17.1)
- Qatar (14.3)
- Kuwait (11.8)
- Switzerland (9.5)
- Hong Kong (8.8)
- UAE ( 5 )
- US (4.3)
- Israel (3.6)
- Taiwan (3.2)
- Bahrain (3.2)
- Japan (2.9)
- Belgium (2.9)
- Oman (2.5)
- Ireland (2.2)
- Netherlands (2.1)
Top 15 in number of UHNW households per 1,00,000 in 2011
- Switzerland (11)
- Singapore (10)
- Austria (8)
- Norway (7)
- Hong Kong (7)
- Kuwait (6)
- Qatar (6)
- Taiwan (5)
- UK (4)
- Netherlands (4)
- UAE (4)
- Belgium (4)
- Israel (4)
- Sweden (3)
- Denmark (3)
See the full report here: Global wealth 2012: The battle to regain wealth
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