Income inequality will increase over next five years

The income inequality is constantly increasing in the world. The rich is getting richer and the poor is getting poorer. The Boston Consulting Group (BCG) released the data which revealed that 50 percent of the global wealth will be concentrated in the hands of millionaires in next half decade.  The research said that 41 percent of the worlds were in the hands of millionaires with income more than $1 million invested in private property last year. The report titled ‘Global Wealth’ further said that this concentrated income will be as high as 46 percent by end of this decade.  The global economy is slowly accelerating and growth has been sustained by booming markets, especially in the developed world. 17 million people were millionaire in the world last year, sharp growth of 2 million people than previous year.

The World’s largest economy leads with maximum number of millionaire. The United States has 7 million of them where as the China has 4 million ultra high income households. Looks like some people are more equal in this communist country. Third position was occupied by Japan with 1 million households having above million incomes. But results are quite different if we consider the density of millionaires. The country of Switzerland has 135 millionaires for every 1,000 households. These houses have private wealth worth $1 million or more.  Oil rich countries like Bahrain, Qatar and Kuwait also made it to the list but we all know that the wealth is concentrated within few families there. 

 

 

Lastest News

How to Make a Successful Real Estate Deal?

How to Make a Successful Real Estate Deal?

Purchasing your first home can be an upsetting, nerve-wracking event. Notwithstanding buying another TV is not something you need to take daintily. When you aggravate that price tag a hundredfold (at any rate), it's nothing unexpected that numerous potential home purchasers escape. Be that as it…

View Full Article …
Ways to Invest in Real Estate

Ways to Invest in Real Estate

If you are looking to invest in a real estate the best way is to directly purchase the properties. There are any different strategies that can be used. One way is to buy a property and hold it for certain period of time. This process requires an active management and it could prove to be very labor…

View Full Article …
Real Estate Attorney

Real Estate Attorney

The guidance of an expert is required in case of buying or selling of real estate property to know about the legal responsibilities involved and required in the process. It is advisable that you must contact a real estate attorney to help you on your case as he can assist you in buying a property…

View Full Article …
Property Management Contract

Property Management Contract

Property management can be defined as the overseeing of a real estate. It can also include the managing of personal possessions like tools, equipment and assets. If such an agreement takes place between parties, the contract for this agreement must contain all the points on which both parties have…

View Full Article …
Getting a Private Mortgage Loan

Getting a Private Mortgage Loan

There are different steps that you need to follow when you are considering to apply for a private mortgage. The first step is to hire a mortgage broker who has knowledge on how to get a private mortgage. The process for getting a private mortgage is relatively simple and fast. In many cases you may…

View Full Article …