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Lankans are superrich

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Sri Lanka is among the 10 economies with the fastest growing millionaire populations, according to the 15th annual World Wealth Report by Merrill Lynch's wealth management division and consultancy Capgemini.

Overall six were in Asia, led by Hong Kong and Vietnam, which each saw annual growth of 33%. Others included Sri Lanka, Indonesia, Singapore and India, the Associated Press reported.
Booming Asia had more millionaires than Europe for the first time last year and is fast closing in on North America for the top spot, a report released Thursday said.

The Asia-Pacific region was home to 3.3 million people in 2010 worth $1 million or more, excluding their homes, an increase of roughly 10% from the year before, according to the 15th annual World Wealth Report by Merrill Lynch's wealth management division and consultancy Capgemini.

Asia's growth outpaced Europe, where so-called high net worth individuals increased 6% to 3.1 million, and puts it within reach of North America, where the number of wealthy rose 8.6% to 3.4 million.
The report's findings illustrate how Asia's economies are growing much more quickly than developed countries and, in the process, minting scores of new millionaires and billionaires. Asia's growth has been powered by China and India, whose economies grew 9-10% last year while European and North American growth was in the low single digits.

"It is entirely conceivable that Asia would overtake North America in the near future," said Wilson So, a managing director at Merrill Lynch Global Wealth Management. "I would be surprised if that does not happen very soon."
The U.S., Japan and Germany still account for just over half the world's 10.9 million wealthy, while China is in fourth place with 535,000, about 58,000 more than in 2009. Australia has moved up one notch to ninth place, edging out Italy, while India cracked the top 12 for the first time. It replaced Spain, which fell to 14th.
Asia also had a bigger proportion of young millionaires, with 3% aged 30 or under. All other regions had 2% or less.

Globally, women are increasingly in the ranks of millionaires. The report found that 27% of the world's wealthy last year were women, up from 24% in 2009.
While the majority of wealth is held by Americans, Japanese and Germans, the authors of the report expect the distribution to become more diverse over time as developing countries continue to grow faster than developed ones.

The superrich, defined as people worth more than $30 million, also fared well. Their numbers grew 10 % to 103,000 last year.

source

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Asians era...!:tup:
 
Sri Lankans are superrich

Sri Lanka is among the 10 economies with the fastest growing millionaire populations, according to the 15th annual World Wealth Report by Merrill Lynch's wealth management division and consultancy Capgemini.

Overall six were in Asia, led by Hong Kong and Vietnam, which each saw annual growth of 33%. Others included Sri Lanka, Indonesia, Singapore and India, the Associated Press reported.

Booming Asia had more millionaires than Europe for the first time last year and is fast closing in on North America for the top spot, a report released Thursday said.

The Asia-Pacific region was home to 3.3 million people in 2010 worth $1 million or more, excluding their homes, an increase of roughly 10% from the year before, according to the 15th annual World Wealth Report by Merrill Lynch's wealth management division and consultancy Capgemini.

Asia's growth outpaced Europe, where so-called high net worth individuals increased 6% to 3.1 million, and puts it within reach of North America, where the number of wealthy rose 8.6% to 3.4 million.

The report's findings illustrate how Asia's economies are growing much more quickly than developed countries and, in the process, minting scores of new millionaires and billionaires. Asia's growth has been powered by China and India, whose economies grew 9-10% last year while European and North American growth was in the low single digits.

"It is entirely conceivable that Asia would overtake North America in the near future," said Wilson So, a managing director at Merrill Lynch Global Wealth Management. "I would be surprised if that does not happen very soon."

The U.S., Japan and Germany still account for just over half the world's 10.9 million wealthy, while China is in fourth place with 535,000, about 58,000 more than in 2009. Australia has moved up one notch to ninth place, edging out Italy, while India cracked the top 12 for the first time. It replaced Spain, which fell to 14th.

Asia also had a bigger proportion of young millionaires, with 3% aged 30 or under. All other regions had 2% or less.

Globally, women are increasingly in the ranks of millionaires. The report found that 27% of the world's wealthy last year were women, up from 24% in 2009.

While the majority of wealth is held by Americans, Japanese and Germans, the authors of the report expect the distribution to become more diverse over time as developing countries continue to grow faster than developed ones.

The superrich, defined as people worth more than $30 million, also fared well. Their numbers grew 10 % to 103,000 last year.


Lankans are superrich - newsnow.lk
 
the word millionaire is outdated , most of the farmers are also millionaire as the cost of their property shtands more then $1mn = 4.5crore in todays land rates....
 
Absolutely Stunningly Beautiful Country.. Hope SL keeps Population in check..Beaches are some of the best in the world..Hope they do not build many tall Glass houses around these...Will be visiting SL again sometime this year..
 
Absolutely Stunningly Beautiful Country.. Hope SL keeps Population in check..Beaches are some of the best in the world..Hope they do not build many tall Glass houses around these...Will be visiting SL again sometime this year..

Well you better check Visa regulations this time. SL revoked the Visa on arrival scheme for a lot of countries including India for some reason.
 
Well you better check Visa regulations this time. SL revoked the Visa on arrival scheme for a lot of countries including India for some reason.

Yep, except citizens from Singapore, Maldives and Philippians...
 
Yep, except citizens from Singapore, Maldives and Philippians...

That's sad. I was planning to come over.Flying Chennai to Colombo is cheaper than flying to anywhere else in India. Even A/C train rates are more expensive. Lot of scope to get more Indian tourist income.
 
That's sad. I was planning to come over.Flying Chennai to Colombo is cheaper than flying to anywhere else in India. Even A/C train rates are more expensive. Lot of scope to get more Indian tourist income.

Nothing to worry, Online visa system will be ready next couple of months.
 

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