Hong Kong Millionaires

28 June 2010 - It was reported that Hong Kong saw the largest increase in millionaires in the world last year, while the net worth of Asian milionaires overtook their European counterparts. The rise was mainly caused by the recovery of Asian asset prices. The annual World Wealth Report - as produced by Merrill Lynch - found that the number of millionaires in Hong Kong soared with a whopping 104, 4%, the highest increase in the world. To be clear: we are talking about USD millionaires here. Hong Kong millionaires are still among the relatively "poor" ones, as they can mainly be found in the USD 1 mio - USD 5 mio band. The majority of millionaires are still concentrated in USA, Germany and Japan, but the mainland is now firmly in fourth place with 477,000 millionaires (up 31% from the year before). The fundraising market in Hong Kong is getting more competitive in recent years, as it seems an increasing number of NGOs have discovered that Hong Kong is a rich pond to fish in. Ding Ding Dollars!