A survey conducted by Citibank shows that in every 10 Hong Kong residents one is a millionaire – a total of 732,000 in the city compared to 601,000 in 2013. The figure is a 22 percent increase from last year.
The survey defines a millionaire to have a million or more in liquid assets, not including real estate. More than 75 percent of the 131,000 new millionaires have liquid assets of about HK$1 million and HK$5 million. The average net worth of the 732,000 millionaires in Hong Kong is HK$12 million, when including properties and fixed assets.
About 20 percent of the millionaires are under 40. An interesting fact is that one-third of the people living in Wan Chai are millionaires!
Source: The Standard
Photo: Fabio Achilli, Flickr
