Nasci, You are incorrect in stating that there are "differing ways" at getting at such statistics.
The standard criterion to determine whether a person is a "millionaire" is as follows, and it was mentioned in the report: "When it talks of millionaires, the report means "high net worth individuals", those with a net worth of at least US $1 million, excluding their primary residence." The calculation is the person's Total Assets (less the value of the primary residence) minus Total Liabilities (less the mortgage on the primary residence). --- Nasci Caldeira <[EMAIL PROTECTED]> wrote: > Hi all, > > Some 12/ 15 years ago, there was a report published > in Australia, that there > were 17 million "Millionaires" in India, and in > Dollar terms! I could and > did believe that, since there are a lot of very > rich, and the country is so > big. That was then the total population of > Australia; it is now 20 million > people. Looks like there are differing ways of > getting to such statistics. > Can some knowledgeable person, explain and confirm > either way? I is > interesting to know. > > Nasci Caldeira > Melbourne > > >From: [EMAIL PROTECTED] > >Subject: [Goanet]Merrier with more millionaires > >Date: Sat, 11 Jun 2005 21:44:06 -0400 > > > >Washington, June 10, 2005 > > >India's teeming millions are rising to a rich > vortex. The number of > >millionaires in India has shot up to 70,000 during > 2004 ? a 14.6 per cent > >rise over the previous year, in tandem with the > country's overall growth > >trends. The past year saw a whopping addition of > 9,000 moneybags to India's > >millionaires club. > >The World Wealth Report 2005, released by Merrill > Lynch and Capgemini in > >New York on Thursday, points out that the Indian > growth in the number of > >millionaires is among the highest. > >In global terms, however, the figure may still be > at the low end. In > >contrast to India's 70,000, Brazil has 98,000 > millionaires, China 300,000, > >UK 418,000 and the US a whopping 2,498,000. > >When it talks of millionaires, the report means > "high net worth > >individuals" ? those with a net worth of at least > US $1 million, excluding > >their primary residence. > >---------------- > >Regards, > >Carlos > > > >
