NEW DELHI, May 20: The US is the richest nation globally. China is second and Japan third, according to a report published in The Tribune.
According to the AfrAsia Bank Global Wealth Migration Review, the US is the wealthiest country in the world with a total wealth of US$ 62,584 billion, followed by China (US$ 24,803 billion) and Japan (US$ 19,522 billion).
"Total wealth" refers to the private wealth held by all the individuals living in each country. It includes all their assets (property, cash, equities, business interests) less any liabilities. The Review excludes government funds from its figures. Larger countries have an advantage due to higher populations.
Other countries in the top 10 includes the UK US$ (9,919 billion), Germany (US$ 9,660 billion), India (US$ 8,230 billion), Australia (US$ 6,142 billion), Canada (US$ 6,393 billion), France (US$ 6,649 billion) and Italy (US$ 4,276 billion).
In the coming decade, China is expected to witness a significant rise in total wealth to US$ 69,449 billion by 2027, while wealth of the US would be around US$ 75,101 billion.
There are about 584,000 multi-millionaires in the world, each with net assets of US$ 10 million or more and 2,252 billionaires.
