Number of Dutch millionaires soars

Despite the recession, the number of millionaires in the Netherlands went up almost 15% last year to 121,700. Worldwide, the number of millionaires hit 10 million, of whom 20 percent are worth over 30 million dollars.

The figures are featured in World Wealth Report published by the wealth management and investment agencies Merrill Lynch and Capgemini.

The number of wealthy people in the Netherlands took a dive in 2008 but came back to hit a record level in 2009. The Dutch increase is greater than elsewhere in Europe, but lower than the international rise. Patrick Neuwirth from Capgemini puts the increase in Dutch millionaires down to good entrepreneurial skills.

“The number of Dutch millionaires has increased a lot compared to other parts of Europe because the Dutch took bigger risks, went for upcoming markets and took advantage of the Dutch market’s bullish performance and of shares which on occasion as much as doubled in worth.”

The agencies say the increase in the number of millionaires worldwide is thanks to the recovery of emerging markets in India, China and Brazil. The number of millionaires in India has grown by 50 percent to over 126,000. Wealth creation was greatest in developing countries although the most millionaires are still to be found in the United States, Japan and Germany.

Last year, the rich favoured safe investments with predictable returns. Real estate regained popularity and, as house prices fell, the wealthy snapped up bargains.

In 2008, people preferred investments close to home but, in 2009, interest moved back to regions of growth. The agencies forecast that this trend will continue in 2010.

Photo by Damian Morys Foto

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