Chinese and Indians Bolster Ranks of Global Millionaires List
China and India are moving up the list of countries with the most millionaires, accounting for most of the newest additions to the 12.6 million millionaires worldwide in 2011, according to a report released by Boston Consulting Group. China added 193,000 millionairres, bringing its total to 1.4 million, as it grows closer to taking over second-place Japan with 1.58m.The US continues to have a lock on the most number of millionaires at 5.13 million households. One of the report’s authors forecasts that Asia will surpass Europe in total wealth within five years. The report predicts that the number of Chinese millionaires will continue to see sharp increases, forecasting that China’s private wealth holdings will be the third largest in the world within the next five years.