North America no longer has the most millionaires.
For the first time, the Asia Pacific region is now home to the largest group of people with more than $1 million to invest.
The U.S. and Canada together still make up the richest territory, even though overall wealth fell 2.3% to $11.4 trillion last year amid market volatility, according to a report from Capgemini consultancy and RBC Wealth Management.
But the area lost 1.1% of its millionaires in 2011, as its 3.35-million affluent households were outnumbered by their 3.37-million peers in
The ranks of millionaires in the Far East swelled by 1.6%, though their wealth slid 1.1% to $10.7 trillion. Surprisingly, given its severe debt crisis, Europe saw its own count increase by 1.1% to 3.2 million, though wealth stumbled a bit to $10.1 trillion. The Middle East had 450,000 high net-worth households, up 2.7%, a group that together boosted its wealth 0.7% to $1.7 trillion.
Worldwide, the population of millionaires climbed 0.8% to hit a record 11 million. In 2010, the demographic expanded 8.3%.
Their overall personal worth, however, slumped 1.7% to $42 trillion amid general economic lethargy, instability in Europe, the
Among individual countries, the U.S. remains top-ranked, followed by Japan and Germany, together claiming 53.3% of all millionaires.
The number of well-off Indians slumped 18% to 125,500, while their counterparts in Hong Kong dipped 17.4%. Despite the beginnings of a slowdown in China, the nation's cadre of millionaires grew 5.2% to 562,400 people. Brazil's number increased 6.2%.