The Latin America Private Banking conference brought attention to the wealthier individuals in the region and Brazil is the beetle. Forbes highlighted that Brazil makes “19-millionaires-a-day” and the country is seen as a huge opportunity for private banks, although 70% of the country’s wealth is concentrated in Sao Paulo and Rio de Janeiro. Statistic was measured by taking all of an individual’s wealth into account, including investments, property, savings and other assets in addition to cash.
Brazil has 137,000 millionaires and some 30 billionaires according to Forbes’ 2011 World Billionaires’ list.
The Capgemini wealth report points regional and country trends:
- The population of High Net Wealth Individuals (HNWI) in Asia-Pacific, at 3.3 million individuals, is now the second-largest in the world behind North America, and ahead of Europe for the first time.
- Europe’s HNWI wealth totaled US$10.2 trillion after growing 7.2% in 2010.
- North American HNWI wealth hit US$11.6 trillion in 2010, up 9.1%.
- Latin America saw another modest gain (6.2%) in its HNWI population in 2010 and HNWI wealth rose 9.2%.
- India’s HNWI population entered the Top 12 for the first time and Australia edged up another notch to number 9.