Bangladesh records fastest growth in rich population

Bangladesh has the fastest growing class of rich people in the world today, according to a global report.

In six years between 2012 and 2017, the country has seen a 17.3 per cent growth in the number of what is called 'Ultra High Net Worth (UHNW)'.

Bangladesh has thus surpassed all other countries, according to the World Ultra Wealth Report 2018 by US-based WEALTH-X, reports UNB.

UHNW refers to individuals with a net worth of US$30 million or more.

WEALTH-X found only five countries in the world that have posted double digit growth in the number of their rich people, said the latest report released on 5 September. These countries are: Bangladesh (17.3 per cent), China (13.4), Vietnam (12.7), Kenya (11.7) and India (10.7).

"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," reads the report.

The performance of the countries such as Vietnam, Kenya and India also illustrates 'significant opportunities for wealth creation across the emerging world', added the report.

Five other countries that are among top 10 are: Hong Kong (9.3 percent), Ireland (9.1), Israel (8.6), Pakistan (8.4) and United States (8.1).

The number of rich rose by 12.9 per cent globally in the six years.

Their combined wealth surged by 16.3 per cent to $31.5 trillion, implying healthy gains in average net worth.

In terms of richest concentration of rich people, the top 10 countries are: The 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).