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| World's rich expect their wealth to grow in 2010 |
| Press Trust Of India / Mumbai Sep 24, 2009, 00:09 IST |
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With a visible recovery in global financial markets in sight, nearly 78 per cent of world’s wealthy population expects to grow their personal wealth over the next one year, a survey today said.
The survey, conducted among 1,500 invstors across the globe, found that the participants expect their average wealth to grow four times to an average $8-million from $2-million at present.
The study was prepared by Scorpio Partnership and Standard Chartered Private Bank in May and June 2009 and comprised people of an average wealth of $2-million from all walks of life, including coporate executives, business owners and academics.
Those in Continental Europe, Asia and the Indian sub-continent have the highest wealth targets and plan to enhance their wealth from the current level by 6, 4.3 and 4.1 times respectively, the report said. Participants from the Indian sub-continent expect their average wealth to grow to $9.07-million in 2010.
Nearly 80 per cent of the future wealthy in Asia said listed investments are likely to be a major source of their wealth as against 72 per cent in North America and 54 per cent in the UK. Despite the crisis, 41 per cent of the respondents in the survey said they have made money through the crisis and 25 per cent said that their wealth levels stayed the same.
Around 96 per cent of the survey respondents pointed out salary as the most important source of their wealth, followed by listed investments. However, those in UK and Indian sub-continent cited entrepreneurship as the likely major source of future wealth in the period ahead.
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