62% of New Millionaires come from Asia

[NorrisK]

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.

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.

[jayce]

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.

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.

[stallion]

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.

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.

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.

[futureofbitcoin]

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.

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.

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".

[HarHarHar9965]

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.

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.

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.

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.

[BillyBobZorton]

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.

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.

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.

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.

[Deuceisgood]

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 ...

[mrcashking]

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.

[innerchaos]

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.

[bryant.coleman]

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.

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.

[Amph]

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 ...

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

[bryant.coleman]

because of growing that is too big, especially in chian with 1M+ births per year

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.

[Amph]

because of growing that is too big, especially in chian with 1M+ births per year

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

[futureofbitcoin]

because of growing that is too big, especially in chian with 1M+ births per year

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.

[Amph]

because of growing that is too big, especially in chian with 1M+ births per year

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

[bryant.coleman]

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

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)

[n2004al]

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

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?

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.

[NoRespect]

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 

[operrajunk74]

The Asia-Pacific region led by China is quickly catching up to the West in terms of wealth.

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.

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.

[bryant.coleman]

in fact a lot of people are smart business asia
so it is not surprising that 62% of millionaires are from asia

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.