Survey: Asia edged out by NAmerica in wealth list

September 25, 2013 2:30:21 AM PDT
A report says Asia's rich got richer last year but fell to second place in combined wealth behind North America, though the region may regain the top spot again as soon as next year.

The report Wednesday by CapGemini and RBC is the latest in a number of recent surveys highlighting the strong rise in the region's wealthy while also hinting at persistent inequality.

It says Asia's wealthy population grew 9.4 percent in 2012 to 3.7 million people and their combined wealth rose 12.2 percent to $12 trillion.

Economic growth, strong stock markets, rising property prices and the region's high savings rates helped boost fortunes.

The report defines wealthy as those with at least $1 million in liquid assets.

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