Tsuen Wan International: The world’s list of millionaires expected to rapidly grow through 2020.

May 6, 2011 - PRLog -- While Europe and the U.S. are still producing the most new millionaires, Tsuen Wan International research shows that the world’s emerging economies are quickly catching up.

Private and public investments controlled by the world’s wealthiest families are forecast to more than double from $92 trillion at present to $202 trillion by 2020 according to a recent survey of millionaires in 25 nations.

The number of families with over $1 million dollars is also set to expand, by two-thirds, to 55.5 million in the developed world. The same group will more than double to 10 million in emerging markets such as China, India and Brazil, the Deloitte LLP survey shows.

However, despite the wealth management industry’s obsession with emerging economies, the majority of the globe’s richest families will continue to be found in the U.S. and Europe, Deloitte said.

"There's no question these markets are of fundamental importance over the long term, but wealth managers can't overlook the value of their home base," Andrew Freeman, executive director of the Deloitte Center for Financial Services informed Tsuen Wan International.

Deloitte highlighted that China, Brazil and Russia and other emerging markets are turning out new millionaires at a faster pace than developed nations, driven by economic expansion, commodity prices and development.

Millionaire household wealth is expected to triple to $25 trillion from $7 trillion across 10 emerging markets in 2011, Tsuen Wan International has been told. China is expected to join the ranks of the top ten wealthiest economies with $3.6 trillion of wealth.

India’s average millionaire is forecast to be wealthier than their average U.S. counterparts.

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Tsuen Wan International is a leading independent investment company, based in the heart of Hong Kong. Tsuen Wan International offers a variety of investment products for institutional, corporate and high net worth investors in equity debt and FX markets.