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The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth (http://cointelegraph.com/news/114617/the-great-wealth-transfer-east-62-of-new-millionaires-are-from-asia?utm_source=google&utm_medium=cpc&utm_campaign=bitcointalk&utm_term=evg).

With the accelerating pace of innovation in mobile communications and fintech, the region
is expected to not only leapfrog the US & Europe by 2019, but also integrate millions
of unbanked people into the global economy.

I actually think it may happen sooner than that, what do you reckon?

No wonder, business in Asia is increasing rapidly along with the population. There are new ventures. They are now less dependent on Western countries.

2019 is a good timescale but like you I think it will be sooner by a year or 2, I don't personally like the fact that they are catching so fast and will soon leave us behind. It is booming over there and the enviroment is about to be tested with all these new millionaires and people who have lived with close to nothing now having enough to buy homes cars and use enormous amounts of power. Crazy times ahead.

if this is the case, china has no reason to hold bitcoin, their farms will dump everything, so with 60% of the network, more thank 2k are being dumped each day

also their citizens are all over the world, is this article taking into account this? chinese are not only in china anymore

Yeah, tons of chinese are buying real state from other countries, sometimes funded by their governments (they give them money and tell them, go there and buy all of that). They are taking over the world, no wonder they are leaders in BTC mining.
If they aren't dumb as a brick they'll not dump all of their BTC wealth tho.

Likely sooner. Good growth can have accelerating growth rates.

Asian folks are definitely hiding/stashing their wealth in Western property, in some cases they don't ever live in the property!

But, is this a bad thing? If they earn their wealth in Asia and then come to Europe or the US to spend it, is it not a good source of wealth distribution? They're bringing wealth into the countries that want/need it!

It's only normal since there are more people in China alone than in the EU and the US together. I've been following the car industry for many years, and it's been a while that Mercedes sells way more of its most expensive models in China than in Germany. The good thing being that many Chinese are investing abroad, though it's not so good for Londoners by example. Thousands of British people had to move to the suburbs because real estate prices have been rising fast due to Asian buyers.

This. In my opinion Asia has just started to catch up with the EU and the US. In future I expect 80-90% of new millionaires to come from Asia.

The Western societies have begun their societal and economic decline - the future growth regions are Asia and maybe South America.

ya.ya.yo!

Asian money will eat the world. My wee relatives are busy learning Chinese. That says plenty.

more population then us by a lot, so I can only expect theres more millionaires.

also its more of the factory based owners who walks away with that kind of money most I think.

Well 62% sounds about right.

I have a friend here in california whos parents keep on buying houses in the alhambra area where most chinese are at, and I asked him what they do?

Parents own multiple factories and dealerships in asia.

in here chinese is most rich and every side of the world you can find chinese people :D and most of them have a business

Any facts or analysis to back these predictions up or is this just a hunch?

% of new millionaires is only relevant if shown as % of the population, so the different size of populations can be normalized. If China has a billion people it's easy for them to have significantly more millionaires than a small country like England.

Ofcourse. Asia is one of the biggest continent. You don't expect America or Europe to have tons of millionaires in its residence. Compare Asia's hidden treasures to US economy, all hidden golds and treasures around it, the fossil fuel etc.. Think of that for starters. Now think how smart asians are. Indians are very good in formulas and algorithms and US workers always hire other races to work under them. From their brilliant minds, they'll be able to invent something that will make them rich. I don't even think 62% is the right percentage. It's way more than that.

Asia is big market with most population in the world, more new Big company come from asia like Oppo , HTC , also you must remember Big market in cryptocoin world in China ;)

this is inseparable from the start conscious people in Asia, the importance of progress in life, so maybe someday asia will be superior to the west,
and time will tell

It's already occured to an extent as there are more Chinese Millionaires now than any other country than the USA.
http://blogs.wsj.com/chinarealtime/2014/06/10/china-now-has-more-millionaires-than-any-country-but-the-u-s/

Millionaires are on track to "control nearly half" the world's private wealth by 2016.
But while we are seeing more millionaires, the gap between millionaires and billionaires is widening. So even if you're a millionaire, there's reason to think that you're falling behind.
http://www.businessinsider.com/the-us-has-the-most-millionaires-but-china-is-making-millionaires-faster-2015-6#ixzz3dxxGRVvw

If this was a video game it would be congrats you powered up to the millionaire level, unfortunately your only just getting started, Business Tycoon.

Not only China India is also now worlds fourth biggest economy even with some big problems India is growing very fast and solidly

Still, Asian countries dependent on the West, including China and India regards to the Consumer electronic things and other stuffs, I agree China makes cheapest electronic things, but where they will sell ?, they need western countries support to export and sell their products.

With growing economy, there's a huge untapped market and generally those who got in early investing in startups are now already a millionaire. Business is booming and it's a matter on how they seize and grab the opportunity. My hope is that if only that group of people see bitcoin as a viable option for them to protect their wealth.

well there are more than half people population so i guess its normal, also people can be born in asia and make their business for example in europe, they would also be millionaires from asia...

There's more asian folks in general in the world. No wonder they have lots of wealthy people among them.

India's kicking butt with 7.3% growth in economy. Economists say that India will be in one of the top 3 economies at the year 2030. Ofcourse, a lot of things change but I think it might happen even sooner than 2030. India has a large market, it needs better marketing.

besides the fact that Asians are many, just consider their vision of the work , I know a little ' of Asian people and I can only say that they are great workers , few holidays and many goals , I'm not surprised that their economy is in boom

I am a bit confused.... How can China be ruled by the Communist Party of China with socialist goals and they have the most millionaires? Is this not something that should occur within a country with capitalist goals?

I have seen scary videos on youtube where global assets are being bought by China on such a large scale, that the mayority of the assets in that country are acctually owned by China and not the country where it bought them. {The USA is also being bought piece by piece}

The economic reforms in China in the 1980's caused a lot of strange movement in political views towards wealth. Some of the Communist Party officials are now enriching themselves, and all socialist goals are being abandoned?

 

I don't know whether Middle East is a part of Asia or not, since people here just talk about China. Actually there are many richest people from Middle East like Prince Alwaleed (Saudi Arabia), Mohammed Al Amoudi (Saudi Arabia), Eyal Ofer (Israel), and many more. We can say Asia as a new power in the world, where each countries there have made some positive economy developments.

Indian market can be a smart move for heavy bitcoin involvement as they have a large market, they have a lot of involvement with tech. With a huge economy and possible adaptation of economy, things can change completely regarding the future of bitcoin.

I agree but for the spread of bitcoin we need India strong business community which is right now not available but we can hope in near future we have some of this

Asia is a rapidly growing market ripe for business, especially China with the economic boom. It is a largely untapped market and it would only be an advantage to learn their language.

This is part of a global trend related to demographics. Asia simply has more people and big North American money is heavily invested in Asia. It's no secret to the rich

It would be a smart move for established indian companies to invest their capital into good use of bitcoin. As it is new and unadopted in a country like India, its introduction and wide usage will do mutual benefits.

Not suprise there. Buoyed by a wave of new faces from China, the up-and-coming Asia-Pacific region surpassed the United States in billionaires on the newly released 2015 Forbes Billionaires List.
The Asia-Pacific, underpinned by China and India, had 562 billionaires, compared with 536 for the United States. Last year, the United States had 492 members and the Asia-Pacific region had 444.

http://www.forbes.com/sites/russellflannery/2015/03/09/2015-forbes-billionaires-full-list-of-asias-562-richest-people/ (http://www.forbes.com/sites/russellflannery/2015/03/09/2015-forbes-billionaires-full-list-of-asias-562-richest-people/)

No surprise here. Asia is going to dominate world trade by 2025 is what I read somewhere.

Middle East is also a part of Asia, but China is being tackled upon by most of the news because Chinese businessmen are the people who made some significant moves economically. Also, don't forget the quote "God made the world; the rest was made in China." No wonder most of the millionaires of today came from China, because obviously we support their products which in turn make them rich. Chinese people also are good in handling business. Well in case you didn't know, the majority of the elite and wealthy people here in our country (the Philippines) are Chinese--Henry Sy, owner of the SM Supermaket chains; John Gokongwei, one of the people who controls Robinsons Land, a large property developer in our country and; Lucio Tan, one of the major stockholders in the country's (the Philippines) national flag carrier, the Philippine Airlines.

I am a regular visitor to India, and I am more pessimistic about their future. India is a small country, with a population of 1.3 billion. The population is growing at a rate of 2% per year, and large number of the educated people are emigrating out of the country in search of better opportunities. Unless they do something to slow down the population explosion, India will remain as a third world nation for quite sometime.

There is no wonder that Asian countries are patching technology in every field , i would not talk about the old days rather i will tell you about the things that had happen in-front of my eyes , i have seen china laddering first in the field of mobile phones from 2003 , i have seen china exploding for raffels in 2006 , and all these are enough for me to prove that , yeah china as a Asian country is marching towards the zenith of development.

You absolutely true India's 2 biggest challenges are population and  emigration of educated peoples to developed countries for better opportunities but both need too much time to settle because of too much corruption in all system

Well, though it is good to hear that Asian are the future millionaires, still the Asian part are long way to go as means of life standards and attitude, it is not going to happen in the span of 50 to 70 years, while they improve their standards, Western and European countries reached to the above high level of standards in terms of economy and social.

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth. ;)It's only normal since there are more people in China alone than in the EU and the US together.China's double digit GDP growth and 1000 % return in real estate prices bubbles since 2001 . ;D
 No wonder they become leaders in BTC mining. China may become the large holder of bitcoins in world. ;D

In some of the countries, both the living standards and the attitudes are changing. For example take the case of Singapore and Hong Kong. But in certain other countries, the living standards are changing, but not the attitude (take the case of Qatar, China, Malaysia.etc). And in the third group of Asian countries, neither the living standard nor the attitude is changing (India, Pakistan, Nepal.etc).

Why wouldn't it? The living standards in western countries have risen tremendously since the beginning of the 20th century and that is without all the new technologies.

Yeah chinese people prefer to build a business than be an employee, thats why there are many big companies from China and other country where these are led by chinese. I don't know exactly what make chinese people special and what the strategy has taken by them when making a business, since there were people from other ethnic or country that built a business, but failed in the end.

I believe the same. The population is huge but the land is not. Its not enough to sustain that kind of a population, it might collapse if it goes way out of hand than what it already is. No jobs left, prices go up due to high demand and less supply. Crime rates will go up too and it will be a dark time for the country.

Nah. The vast majority of Chinese people think that the ONLY way to live is by working for someone for a wage. Came from the time when no one was allowed to own their own business, and everyone worked for the state. Especially the older generation, they almost cannot comprehend the concept of working for yourself, or living without a "job".

No, look at it economically. The demand is an all time high in the market, new industries are entering the country, new jobs are being created everyday. The economy tends to grow as there are big Indian companies emerging, which too are investing their capital in foreign equities. India is making good money, not enough, but good comparatively.

China is in a big bubble that will eventually burst. The population will start demanding more life quality and less hours of work for the peanuts the pay now. Sooner or later it will happen. Things cannot go they way they are now forever. Everything that is founded on bad quality mass produced shit with exploited labor always collapses.

We will see mass anarchy in China at some point in the next 50-100 years. I'm talking apocalyptic mayhem. The disconnect between the haves and have-nots is insane, and the corruption just completely out of control. It is gonna be nuts ...

Unless you're young we wont see any of that because we'll all be dead. I also don't agree that China is a bubble. China has had steady growth for decades and are now coming to the point where world domination is on their minds.

so let me get this straight.. Asia who houses over 60% of the world population and has been around since dirt was invented... is going to finally get around to leapfrogging past the UK and the US.. what the hell took you so long... I mean talk about lazy.

Do you know that the total tax burden on the businesses and industries in India stands at 63% (including corporate tax, VAT, labor tax, service tax, license fee.etc)? This is one of the highest rates in the world. Still, the industries are making a profit by paying their employees low wages, and overpricing their products. But this model can't be sustained for too long.

it was predicted that around the years 2100++ there will be an huge human extinction(after we reach around 9b people in the world) and a great population reduction,. half of what it is now, because of growing that is too big, especially in chian with 1M+ births per year

basically a reset that will bring the economy to a good point again, and nation will start from zero

Hmmm... your stats are wrong.

Number of births in China: 16,870,000 (2014)
Number of births in India: 27,379,500 (2013)
Number of births in Pakistan: 4,964,000 (2014)
Number of births in Sub-Saharan Africa: 32,584,000 (2014)

As you can see, China well behind India and Sub-Saharan Africa. In fact, the number of births in India is almost 62% higher than the same in China.

i must have confused it with another number, but sub-saharn africa isn't a country, it is almost a continent, not really a fair comparison

So it's fair to compare China with the vatican city then? If you really wanted to be fair, you should compare population or births per square kilometer. In which case China isn't even close to being the most populated country in the world. China's population isn't a problem. India's might be, but even India isn't the most populated per sq. kilometer.

well you can't compare it in this way because then one could argue that you can fit people vertically by building high constructions, so does not make sense to compare it per square km

you should compare nation to nation

The total population of Sub-Saharan Africa (at 1,100 million) is very close to that of India (1,250 million) and China (1,350 million). That's why I made the comparison. But I agree that Pakistan should have been excluded.

And regarding population density, the following gives the figure for 2015, and the projected figure for the year 2100:

China: 141 people / sq.km (2015). Projected: 113 people / sq.km (2100)
India: 380 people / sq.km (2015). Projected: 471 people / sq.km (2100)
Sub-Saharan Africa: 47 people / sq.km (2015). Projected: 212 people / sq.km (2100)

It is to much possible and not surprising for me. The Asian people are hard workers and very obedient. Then they work for much less than the Europeans and Americans or other wealth people. So they produce to much without asking as much as the others. This help to make rich more fast the owners.

in fact a lot of people are smart business asia
so it is not surprising that 62% of millionaires are from asia
and I would be one of them  ;D

Agreed with you that there are new concepts and ventures in Asia and now they are not dependent on western countries. I think the main reason is rapidly rising wealth in India, China, Japan, Indonesia and Thailand has boosted the region’s number of high net worth individuals. Growth in India, China, Indonesia and Thailand means there will be more and more millionaires in the region than western countries.

You misunderstood the post. It doesn't claim that 62% of the millionaires are from Asia, which is plain wrong. What the post says is that 62% of the NEW millionaires are from Asia.

Here is the distribution of high-net worth individuals (i.e wealth more than $1 million):

Total population - 12 million

North America -    3.73 million (wealth $12.7 trillion)
Asia-Pacific   - 3.68 million ($12.0 trillion)
Europe - 3.41 million ($10.9 trillion)
Latin America - 0.52 million ($7.5 trillion)
Middle East    - 0.49 million ($1.8 trillion)
Africa - 0.14 million ($1.3 trillion)

Out of the 3.68 million HNW in Asia, 1.9m are in Japan, and 0.643m in China.

Yes i just read about it.

in 7 years India will have more population then China.
In 15 years time China population will be on average older then of USA.
In 35 years Nigeria will become third most populated country with 440 million population.
In 35 years Russia will have 15% less population then today.
In 75 years Japan wil have 20% less population at average age of 53 years old.
 

yes this is very common. here in Asia are still a lot of the youth and also full of natural resources are numerous and widespread. Here many of the workers who always worked hard. This is asia !!

Yes i hope it will happen in reality till 2019 as i am also from asian countries. But there are lots of countries like nepal where the development is nill due to political situation. But yes india and china are having great economic growth.

Because Asia covers many developing country whereas other continents either have developed countries (like eurpoe) or undeveloped countries (Africa)or few developing countries (S.america). So Asia got obvious reasons to have many millionaires and have big potential for bitcoin.

yes I guess it's true
in asia very much unemployment that cause them to make new discoveries and sell them so that they can become a millionaire

Countries such as Nepal should attract foreign investment, if they want to grow economically. Right now, almost the entire GDP is dependent on remittances from Nepali laborers, who work in India and the GCC nations (such as Saudi Arabia, Qatar and Kuwait). There are very few natural resources in Nepal, and therefore they have few choices.

I think this is actually good news. The wealth inequality between the west and China was purposefully kept in place for decades although China had potential to harvest it's power and become a greater power in terms of capital. It's good to see growth coming from there, IMO it'll make way for more collaborations instead of competition.

The Chinese potential to grow further has been hampered by the slow economic growth and issues such as industrial pollution in the recent times. The stock market crash was another eye-opener. It seems to me that the Chinese economy grew at a pace, which was even more than the expectations. And now the time has come for the market correction.

China is prone to collapse. Thats what happens when you grow an economy based on low quality products, mass produced trash and low IQ people that aren't capable of actual innovation. It's unfortunate, im sure there are lots of good people there, but they are all doomed due their shitty goverment.

I have to agree with that. There is absolutely ZERO innovation in China. All they are doing is to steal techniques from German and Japanese companies, and then use their slave labor battalions to produce the same product at one-fourth the cost. As the wealth level across the world rises, the penchant for low-quality and cheap goods will take a hit. Countries such as China will be the worst hit ones.

There is a lot of cheap labor in Asia so there is a lot of opportunities for entrepreneurs. I wonder how many of those millionaires in Asia are expatriates from the West.

This date is wrong. Check the new data for last 5 years.

 Yes it isvery much truth.It is not only about to create limited  numbers of milioneirs.You can open business in China,small business,whatever it is for example selling food on street,you dont need to register your business,pay taxes anything,just make money.You have to register business when earnings will exceed earnings limit .If you are doing that business together with your wife that earnings limit double

Yeah Chinese people are very influential in businesses and as well as the Japanese its just amazing how those little guys out there are the race of the most millionaire this world have. 

Wow those Asian guys, I think maybe just 50% from those race and 50 from the western part.

Asian rival is cheating, but I don't agree with the OP, they have saturated global market, it's just a matter of time before they succumb even more.

Chinese people are mostly very good into business I guess the 60% of it is from them, and the rest is from the other parts of Asia.

how about indonesia population http://www.euromonitor.com/indonesia-in-2030-the-future-demographic/report

This is actually not new, Asians have been stealing our jobs and getting away with the money.  Even in school Asians are stealing the scholarships and awards.

Asians are known for their being hard working and persistent.  It is no wonder then that a large percentage of new millionaires comes from Asia.

Yes you are right, and the other thing is that every single major company from Europe or USA or any other part of the world is investing in China and other countries in Asia, because of the small amounts of money they are paying the people there. So China is a country with a large number of hardworking people, so they are happy that they have a job and the companies are happy too. Also, in the past several years the worldwide markets are full with cheap goods from China, so the owners make a good profit on the bases of cheap work force and cheap materials.

Now chinise worker does not work 24/7 for any money,chinse worker is working for few hundred bucks a month and has paid cost of life,apparment and food and travels to his families  during his holidays.Chinise workers is mostly specialist and knows english

This is expected. Naturally wealth is easier to create in economies where GDP is growing at faster rates.

What made them millionaires is because of the common culture of the Asians that make them industrious and persevering.  It has also something to do that Asians are all over the world now, they are taking their jobs.

62% of New Millionaires come from Asia.

Maybe it's right or maybe not.

All news info cannot really know who is the TOP 100 Richest on their country, how comes for the Richest persons on the world. Not all rich people want to give know how wealth they are.

Especially for some BTC Richest persons on online. :) They will stay hidden at hidden leaf ninja village.

I dont think so, there many millionaires here in our country and as well as in the western part of the world.

There are New Millionaires in the Asia and they will be increased day by day, its because of their growing economy. Asia is going through huge economic development. There is a huge growth in the Chinese and Indian economy, they are the main reason for the development in this region. This number will be increased in future also as its just start of their economic progress.

Maybe the report is not right because if I have $100 and I go to Indonesia, that's 1,350,500 IDR does that make me a millionaire already? What about if I go to Vietnam, my $100 is equal to 2,221,600 VND.

If you read the article all the data are in us dollar. There is no meaning that the title show the data in the currency of every country and the data in the article be in us dollar.

Hundreds of millions of people are moving into the middle class in China. The increased economic activity is going to benefit the people who innovate and those who own the means of production the same way it did in America over the last 100 years, but it is happening on a vastly larger scale.

Please recheck the report, all the data is based on and as per the US Dollar so it doesn't matter from which countries they belongs to, their wealth will remain the same. This is just a start of the economic development in Asia, in future there will be more and more millionaires and billionaires from Asia region.

Asia now is the GO-TO place for development and is generating a huge amount of wealth and millionaires. Vietnam and Cambodia are also upcoming in manufacturing and the tourist trade and China has really set the pace for high end living and spending in luxury goods.

Currently, China seeks to become a dominant shopping force in the world, and in the next ten years to "very hard" struggle in this direction. The Chinese in Europe mostly invest in the energy sector. This is followed by engineering and financial structure. In addition, Chinese investors own shares of Bank of America, Coca Cola, Apple and Visa.
While the U.S. is concerned that the cheapness of the yuan to benefit Chinese exporters, and plan to create a customs barrier for Chinese goods, China is getting stronger every day. The project of pipeline length of 1000 km, which will be annually transported 15 million tons of oil, at the same time indicates that in the next 10 years who will challenge the United States, and it seems that this situation will affect the balance of power in Asia. If you think that China and Russia are neighbouring countries and the forces of Asia, we can say that the efforts of Washington, attached outside of the region will not be easy.

awesome thought,but it is not the case here,it is a global analysis and hence it is evaluated in US dollars,if you have a million bugs in what ever currency it is a million fiat figure  :P Asian countries are developing rapidly and remember the population in all of Asia,if you combine china ,india, pakistan , bangladesh there are a couple of billion people ,so it is a perfect place to start a business and if you are successful you are a millionaire  ;D

Well i do believe those people are buying shares from others companies, they are investing, taking the risks like the big miners present at China, most of those companies are from chineses people, soo i dont see developed countries being able to keep making and generating milionaires as before.

China has a chance to be a leader in technological advances. America and Japan may no longer be on the cutting edge when it comes to technology. But really globalization is changing the landscape in all areas.

I think I can relate to this has they say a high population is good for an economy as it provides a ready market for goods and services and secondly the bosses have access to cheap labor leaving them with alot of money to spend on themselves 💰💴💡

We know, as many occupy our hive....

~ The Hive ~

China may lead since they have many cash or having a big economy.Businessmen is flocking to ASIA especially in China, India and to Asean nations and this countries comprise of biggest consumer in the world.Bigger population means bigger market for your product.

China definitely used to be a very heavily industrial nation and it used to have effectively everyone working as long and as hard as tey could to produce goods, but it is true now that China is starting to develop a middle class. Which is good news, because it means there are fewer people slaving away at poor jobs to make ends meet.

Yes millionaire many who came from Asia. As in China, many millionaires came from there. And perhaps also many of the Middle East. Millionaires are from the Middle East usually have a wealth of results from oil or other natural resources, because the area is very rich in agricultural produce. But for the richest people I think, is still on hold by Bill Gates :D

i don't think it has anything to do with the country resources like oil,...
besides who cares where the hell they come from. we should look at what they did and if we can do 1% of what they did successfully we are good for life.