India, China and Brazil have now overtaken many European countries in a new report measuring consumer wealth from research firm TNS.
According to the firm’s ‘Global Affluent Investor’, India, China and Brazil each has more than three million affluent households with over USD 100,000 in funds for investments.
While the US ranks at the world’s most prosperous country with 31 million affluent households, UAE and India appear in the top five countries where the affluent have more than USD 1 million investable assets on average, along with Singapore and Hong Kong.
The report also found that the only Europeans to make it into the top five are the Swedish, while the UK and France are the least likely in Europe to have such high levels of investable assets.
However, in small, wealthy countries, the rich make up a much greater percentage of the population: 29 per cent for Luxembourg and 20 per cent for Singapore, compared to around 1 per cent in India and China."This demonstrates a great contrast in wealth distribution within emerging markets, even where the actual number of affluent households is high and highlights a need for very precise marketing strategies to reach the right audience," the study said.