The ranks of high-net-worth individuals continued to grow in the U.S. and around the world last year after a pause in 2011 caused by the Great Recession, according to the latest World Wealth Report 2014.
The concentration of just where the wealthiest among us lives is borne out in a new report: The U.S. and Japan account for nearly half (46.1%) of the world’s superwealthy, according to a report from Capgemini and RBC Wealth Management.
Overall, the World Wealth Report 2014 found that the number of high-net-worth individuals grew by 14% in 2013, compared with 9.2% the year before. That’s a big change from 2011, when the size of the exclusive club remained flat from the previous year.
The report, which defined high-net-worth individuals as those having investable assets of at least $1 million, not counting primary residence, collectible, consumables and consumer durables, looked at data from 71 countries.
(Related on ThinkAdvisor: Top 12 Wealthiest Countries: 2013)
North America and the Asia/Pacific region were in a tight race as the top growth areas, the report found.
Take a look at our countdown of the Top 12 Countries With Most Millionaires for 2014:
Increase over 2012: 16.5%
11. South Korea