Wow! 17% of Singapore households have wealth of more than US$1m

If you're looking for a millionaire, you know where to go.

Barclays Research notes that Singapore, again, had the highest density of millionaire households in 2011 with 17% of all households with private wealth of US$1mn or more, according to Boston Consulting Group, followed by Qatar (14%), Kuwait (12%) and Switzerland (9%).

Here's more from Barclays Research:

Global private financial wealth grew by 1.9% in 2011 to US$122.8trn, according to BCG, driven by growth in rapidly developing markets, mainly in Asia-Pacific and Latin America. However, North America, Western Europe and Japan all lost private wealth.

Private wealth in Asia ex-Japan increased by 10.7% in 2011 to US$23.7trn, according to BCG, the fastest relative to other geographies. By 2016, private wealth in Asia ex-Japan will reach US$40.1trn, BCG estimates, accounting for 26% of global private wealth (from 19% in 2011) and at a CAGR of 11.1%, the highest out of all geographies.

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