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Word: millionairedom (lookup in dictionary) (lookup stats)
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...Indeed, Asia is minting more millionaires at a faster rate than just about anywhere else. The number of Indians and South Koreans achieving millionairedom last year surged a remarkable 19.3% and 21.3%, respectively, while Indonesia and Hong Kong recorded double-digit growth. The wealth of millonaires in the region is expected to grow 6.7% a year through 2010, according to the report, compared with 3.7% for Europe. Roman Scott, a vice president at Boston Consulting Group (BCG) in Singapore, says the soaring economies of China and India are behind the boom: "If you open up economies for two billion people...

Author: /time Magazine | Title: Bespoke Banking | 8/21/2006 | See Source »

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