Global household wealth to rise by 50 pct in 5 years -report

LONDON, Oct 10 (Reuters) - Global household wealth will growby nearly 50 percent in the next five years to $330 trillion,with the Chinese overtaking the Japanese as the world's secondrichest people, Credit Suisse said in a report on Wednesday.

The number of millionaires could jump by more than 60percent to 46 million in 2017, with twice as many Chinese inthat category than in 2012, while the United States would stillaccount for more than a third of the world's most wealthy.

"If the recent growth trends continue, China could reach thereal wealth level that the USA enjoyed in 1992, which wouldrepresent a jump of 22 'USA years' in just five," Credit Suissesaid in its Global Wealth Report 2012.

Global household wealth - measured as households' financialand non-financial assets minus debt - rose by about 1 percent onconstant exchange rates over the past year, the smallestincrease since the 2008 Lehman collapse.

Just 0.6 percent of the world's people have assets worthmore than a million dollars apiece but collectively they accountfor nearly 40 percent of global wealth. Meanwhile, nearly 70percent of the population has net assets below $10,000, or, lessthan 3.3 percent of global wealth in total.

(Reporting by Ingrid Melander; Editing by Catherine Evans)


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