India and China have more wealthy families than European countries, according to market research firm TNS. According to the firm’s ‘Global Affluent Investor’ study, India, China and Brazil have overtaken many European countries in this measure of consumer wealth. Each of these countries has more than three million affluent households with over $100,000 in funds for investments.
While the US is ranked as 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, alongside Singapore and Hong Kong, the paper said.
The only Europeans to feature in top five are the Swedish, while the UK and France are the least likely in Europe to have these levels of investable assets, the study said. However, in small, wealthy countries, the rich make up a much greater percentage of the population: 29 percent for Luxembourg and 20 percent for Singapore, compared to around 1 percent 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.
The study also revealed regional contrasts in terms of what the affluent actually invest in. While the Chinese, Indian and German affluent are keen investors in precious metals, this falls to just 3 per cent in Sweden, Norway and the Netherlands, and 2 per cent in Denmark and Israel.
More from NEWS
IHG announced that following an extensive refurbishment due to commence in early 2020, InterContinental Hong Kong, originally a Regent, will …
Intercontinental Hotels Group is reportedly working with a property investor to participate in the £1.2 billion (US$1.7 billion) auction of …