Sunday 26 June 2011

Millionaires in Hong Kong On the Up

The Territory has seen large rise in the number of millionaires this year. A recent annual survey Citibank indicated that this year has seen the biggest jump since recording began 8 years ago.

Graph

Over half a million people now have liquid assets of over a million dollars. This is out of a population just under seven million.

The massive increase in wealth is put down to the ongoing property market and extortionate rents charged for tenants in both residential and business sectors.
Over the border in China things are looking good for a lucky few. The number there has doubled to 115 people with over a million billion dollars. China is currently sitting second after the USA in the league for billionaires. The continuing growth in China can only see this gap narrowing quickly in the years to come.

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