»
Driven by market capitalization growth in emerging economies, the wealth of the world’s high net worth individuals (HNWIs) increased 9.4 percent to $40.7 trillion in 2007, according to the 12th annual World Wealth Report from Merrill Lynch and Capgemini (via MarketingCharts).
The number of HNWIs in the world increased 6 percent in 2007 to 10.1 million, the number of ultra high net worth individuals (Ultra-HNWIs) increased 8.8 percent, and for the first time in the average assets held by HNWIs exceeded $4 million since the Report has been published. (View chart of HNWI population by region,’05-’07.)
HNWIs are those with net assets of at least $1 million, excluding their primary residence and consumables; Ultra-HNWIs - who number some 103,000 - are those with net assets of at least $30 million, excluding their primary residence and consumables. The highest proportion of Ultra-HNWIs to HNWIs is in Latin America (see chart).
The global economy grew 5.1 percent 2007, down slightly from the 5.3 percent global growth in 2006, according to the Report, which forecasts that global HNWI wealth will grow to $59.1 trillion by 2012, advancing at a rate of 7.7 percent per year.
Impressive growth of emerging economies in 2007 was boosted largely by thriving export sectors and heightened domestic demand. The largest regional growth of the HNWI population occurred in the Middle East, Eastern Europe, and Latin America, with increases of 15.6 percent, 14.3 percent, and 12.2 percent, respectively; while the largest regional growth in wealth occurred in Latin America, the Middle East, and Africa (see chart).The BRIC nations (Brazil, Russia, India and China) continued to play pivotal roles in the global economy in 2007, driven by impressive economic gains and robust market capitalization growth.
(MarketingCharts offers more findings from the report.)
Radio stations in the U.K. reacted with outrage when they learned of a report by researchers from the University of the West of England which accused them of promoting excessive drinking.
The study looked at 1,200 hours of radio output,…
General Motors posted sales of 308,817 vehicles in August. That’s a drop of 20 percent from August of last year - but 31 percent better than July.
In order to boost sales as much as possible during a time when…
A new digital out-of-home network to reach golfers is launching to 100 retail locations in the next two months. The network will be available in Dunham’s Sporting Goods, Golf Etc., Golf USA, Pro Golf, and ParMasters, among others.
Fox says that viewers’ attention to commercials is higher when fewer commercials are aired. The revelation comes as a result of testing the network has done for its freshman thriller, Fringe, which will premiere Sept. 9 with limited commercials and shorter…
Worldwide sales of mobile phones will reach 1.28 billion units in 2008 - up from 1.15 billion units in 2007 - an 11 percent increase from last year, according to Gartner, Inc - (via MarketingCharts).
While the mobile phone market is poised for…
Consumers in all income segments are cutting back spending, and doing so to a greater extent recently than at the beginning of the second quarter, according to a comScore study examining changes in consumer attitudes and perceptions about the U.S. economy…
