Asia-Pacific Surpasses North America In Millionaires

The number of millionaires in the Asia-Pacific region has surpassed North America, according to a study released by Capgemini and RBC Wealth Management. There are a total of 4.69 million high net-worth individuals (defined as having investable assets in excess of $1 million) across the Asia-Pacific region, marginally ahead of North America's 4.68 million.

The latter is still ahead in overall wealth controlled by those individuals - $16.2 trillion. However, HNWIs in Asia-Pacific own $15.8 trillion and this is also predicted to surpass North America's collective wealth at some stage this year, driven by a surge in super wealthy individuals in China and India.