Asia speeds ahead in wealth race with North America

Asia Pacific will overtake North America both in terms of high-net-worth population and accumulated wealth as early as next year, according to RBC Wealth Management and consultancy Capgemini. The research partners, which collaborate on world and Asia-Pacific wealth reports annually, forecast earlier this year that the region would surpass North America by 2015. But increasing GDP, favourable demographics and a high savings rate has sped up the process. RBC WM is now confident the …