Published:  03:53 AM, 12 September 2018

'Rich rise fastest in Bangladesh'

Bangladesh ranked the fastest growing country in the world in terms of its increasing rich population.According to the latest World Ultra Wealth Report 2018 by WEALTH-X, the ultra-high net worth (UHNW) population in Bangladesh posted a 17.3 percent growth over the last six years (2012-17) surpassing all other countries of the world.

UHNW refers to individuals with a net worth of 30 million USD or more. US-based WEALTH-X provides intelligence and market research on UHNW. In its latest report released on September 5, WEALTH-X found only five countries in the world which have posted double digit growth in rise of their riches' numbers and these countries are: Bangladesh (17.3 percent), China (13.4), Vietnam (12.7), Kenya (11.7) and India (10.7).

The report states, "Looking at a broader range of nations, China - perhaps surprisingly - is not the global leader. That status lies with Bangladesh, which has registered compound annual growth in its UHNW population of 17.3 % since 2012. Double-digit increases have also been posted by Vietnam, Kenya and India, illustrating the significant opportunities for wealth creation across the emerging world."

The five other countries which made it to the top 10 in terms of higher rise of the rich population are: Hong Kong (9.3 percent), Ireland (9.1), Israel (8.6), Pakistan (8.4) and United States (8.1).

The report says number of rich (UHNW) rose by 12.9 percent globally to 255,810 people, a sharp acceleration from a year earlier. Their combined wealth surged by 16.3 percent to $31.5 trillion, implying healthy gains in average net worth.

In terms of richest concentration of rich people, the top 10 countries are: United States (79,595 UHNW population), Japan (17,915), China (16,875), Germany (15,080), Canada (10,840), France (10,120), Hong Kong (10,010), United Kingdom (9,370), Switzerland (6,400) and Italy (5,960).

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