According to a report called the AfrAsia Bank Global Wealth Migration Review, India is the sixth wealthiest country in the world with a total wealth of $8,230 billion. The report also lists the US as the wealthiest with a total wealth of $62,584 billion, followed by China and Japan.
Total wealth refers to the wealth held privately by the individuals of that country including assets in property, cash, equities, business interests, etc. minus any liabilities. The results do not include any government funds giving us a picture of the countries with the most number of wealthy individuals (with over 1 million in assets).
The top ten wealthiest countries as per report are:
|Sl. No||Country||Wealth (in billions dollars)|
According to the report, the main factors for India's wealth creation were a large number of entrepreneurs, good education and a robust outlook for IT, BPOs, real estate, healthcare and media sectors. It also forecasts a 200 percent growth in 10-years for India. China is estimated to create $69,449 billion in total wealth by 2027, while the US would be creating $75,101 billion.
Globally, there are 15.2 million high net-worth individuals in the world and the total privately wealth amounts to $215 trillion. Their total wealth is expected to rise by 50 percent by 2017 at $321 trillion. The fastest creators of wealth would be Sri Lanka, India, Vietnam, China and Mauritius, as per the report.
In the next 10 years, India is expected to overtake UK and Germany to become the fourth wealthiest country in the world. Australia, on the other hand, is expected to get ahead of Canada and gain a significant ground on the UK and Germany in terms of wealth.