Rich richer

15 09 2013

There are several measures of wealth around. There are also measures of poverty, but these are less likely to generate media stories unless associated with political strife.

There have been several media accounts of a report by Wealth-X, which each year delineates the really, really rich around the world. PPT uses a Wall Street Journal story that appeared at Wealth-X’s website. It begins: “In Southeast Asia, the rich are getting richer.”moneybags

The WSJ says:

Every country in the region tracked by the [Wealth-X] report – Singapore, Indonesia, Malaysia, Thailand, the Philippines and Vietnam – saw their population of ultra-high net worth individuals (UHNW), defined as those with assets of US$30 million and up, grow over the past year.

These UHNWs have done pretty nicely in the past year, for Thailand:

boasted the biggest growth of this specific group of wealthy, with its ultra-high net worth population up 15.2% to 720 individuals this year, compared to 625 in 2012. The wealth pool of these millionaires in Thailand has also grown, and they now control US$110 billion in assets, up from US$95 billion a year ago.

That’s about $150 million each for the 720.

Of course, US$150 million is a drop in the bucket when compared with, say, the announced royal wealth for Thailand, which is far in excess of $30 billion. And that doesn’t even include the taxpayer slug of US$436 million for making sure the royals are safe, secure and posterior polished. With the rich getting richer, we would expect the Crown Property Bureau’s assets and personal royal wealth to have at least kept pace in recent years.

Thailand, which has actually seen tiny improvements in its Gini Index and increases is incomes for the poorest in recent years. Even so, the National Statistical Office’s 2011 household survey revealed that the national average monthly income was 22,236 baht (US$741). The national average per capita income for the poorest 10% of the population was just 1,896 baht (US$63) per month.


Actions

Information




%d bloggers like this: