Worldnews---India will be recording the fastest growth of 200 per cent over 10 years to emerge as the fourth wealthiest country in the world with a private wealth of $24.69 trillion, overtaking the UK and Germany, reveals a report by AfrAsia Bank.

Asia's third-largest economy, currently ranked as sixth wealthiest in the world, also topped the list of "Best Performing Wealth Markets" with a growth of 25 per cent to $8.23 trillion as the global wealth rose by 12 per cent in 2017 (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017), according to AfrAsia Bank Global Wealth Migration Review 2018.

Malta and China with growth rates of 22 per cent each followed India as the best performing markets for wealth creation.

The US is currently the wealthiest country in the world at $62.584 trillion, followed by China ($24.803 trillion; Japan ($19.522 trillion), the UK ($9.919 trillion), Germany ($9.660 trillion), India ($8.230 trillion), France (6.649 trillion), Canada ($6.393 trillion), Australia ($6.142 trillion) and Italy ($4.276 trillion) among the top ten. In 10 years, the US will continue to lead with total $75.101 trillion; followed by China ($69.449 trillion), Japan ($25.378 trillion), India ($24.691 trillion), the UK ($10.911 trillion), Germany ($10.626 trillion).

The worst performing wealth markets' table for 2016-17 was led by Pakistan and Nigeria, showing an annual decline of 10 per cent each. Qatar and Saudi Arabia are among the world's top ten worst performing wealth markets.

For Pakistan, the decline was driven by stock market losses and safety concerns, while for Qatar, it was its weakening ties with neighboring countries including the UAE, Saudi Arabia and Egypt that has deterred investment. The Saudi decline was triggered by stock market losses and a large outflow of HNWIs (high networth individuals) from the country as the largest Arab economy struggled to diversify its economy away from oil, said the report.

According to the report, global wealth --- which has risen by 27 per cent over the past 10 years (from $169 trillion at the end of 2007 to $215 trillion at the end of 2017), assisted by strong wealth growth in Asia--- is expected to rise by 50 per cent over the next decade, reaching $321 trillion by 2027. This will again be driven by strong growth in Asia.

Over 10 years, along with India, Sri Lanka, Vietnam, China, and Mauritius will be among the fastest growing wealth markets.

India's exception growth will be driven by factors such as a large number of entrepreneurs, good educational system and English speaking, strong growth forecast in the local financial services, IT, business process outsourcing, real estate, healthcare and media sectors.

Among the 10 global cities to look out for most vibrant growth, six are from India. They include Pune, Hyderabad, Bangalore, Mumbai, Delhi, and Kolkata. Other cities include Colombo, Ho Chi Minh City, Hangzhou, and Port Louis (Mauritius).

"Wealth migration figures are a very important gauge of the financial health of an economy. For instance, if a country is losing a large number of HNWIs to migration, it is probably due to serious problems in that country (crime, lack of business opportunities, religious tensions etc.). Conversely, countries that attract HNWIs tend to be very healthy and normally have low crime rates, good schools and good business opportunities," said AfrAsia Bank report.

issacjohn@khaleejtimes.com

"The worst performing wealth markets' table for 2016-17 was led by Pakistan and Nigeria, showing an annual decline of 10 per cent each. Qatar and Saudi Arabia are among the world's top ten worst performing wealth markets"

Buhari is really working!

#BackToDaura2019

why is there not an african country on the list there?

Shedrack777:
why is there not an african country on the list there?

Oya mention one that deserves to be there

MichaelBukamzy:

Oya mention one that deserves to be there

swaziland

Nigeria is going down in all global measurements and indices. Even wealth is on a rapid decline.

On January this year, Nigeria surpassed India as the country with the highest extreme poverty even though India has 6 times more population.

Is it billion or trillion? Op self.

The 4th richest nation there is Britain, yet Scotland wants to leave Britain!

But if Biafrans want leave a poor country like Nigeria, some people will wonder why.

Biafra

Meanwhle one person stole up to $3b in Nigeria.
Iam not understandingo

meolaniyi:
Meanwhle one person stole up to $3b in Nigeria.
Iam not understandingo

Are you cursed?

Do ever think with your head?

Why are you so stupid?

Now mention the person that stole $3b in Nigeria.

Largest economies is a more appropriate term than "Richest"

watch Full Video: What Saraki, Dogara told Buhari about IGP, Dino Melaye, 2018 budget. video credit : oak.tv. watch the video below.

https://www.youtube.com/watch?v=VFjnNPKg02U

Interest rate.

Argentina: 40%
Iran: 18%
Egypt: 16.75%
Nigeria: 14%
Turkey: 8%
Mexico: 7.5%
Russia: 7.25%
Brazil: 6.5%
Vietnam: 6.25%
India: 6%
Pakistan: 6%
China: 4.35%
Saudi: 2.25%
US: 1.75%
Australia: 1.5%
S Korea: 1.5%
Canada: 1.25%
UK: 0.5%
Eurozone: 0%
Japan: -0.1%

Kingspin:


The worst performing wealth markets' table for 2016-17 was led by Pakistan and Nigeria, showing an annual decline of 10 per cent each.

It's very obvious if you are out there.Nigerians are poorer.Businesses are suffering severely,incomes are shrinkling.
Buhari aside from making majority poorer and many beggars has also left us more divided,with sorrow tears and blood marking his disastrous 3years rule.

Ok.

Which country is the biggest debtor.

Subtract it from their wealth.