FIND OUT MORE COME 1ST JULY 2008 Wednesday, June 25, 2008
Supplementary article to India - Land of Possibilities
WORLD NEWS
Indians, Chinese top world’s rich list
INDIA and China have the world’s fastest-growing populations of millionaires,with a penchant for luxury travel, gems and designer clothes, a study released yesterday revealed. The number of Indian millionaires jumped 22.7 per cent last year to 123,000, followed by China where the number jumped 20.3 per cent to 415,000, said the 12th annual World Wealth Report, prepared by US investment bank Merrill Lynch and information technology group Capgemini.“In the Asia-Pacific region, wealth is being created at an unprecedented rate,”said Mr Kong Eng Huat, South Asia market managing director at Merrill Lynch Global Wealth Management.“Not withstanding the recent dislocation in global markets, the robust economies in Asia are increasingly being driven by the domestic consumption story and continue to spur wealth creation in the region.”The report said China surpassed France as the world’s fifth-largest population of high net worth individuals, people with net assets of at least US$1 million excluding their primary residence. Also among the fastest-growing were South Korea, where the millionaire population rose by 18.9 per cent to 118,000, and Indonesia, which saw a 16.8 per cent rise to 23,000, the report said. Singapore saw a 15.3 per cent rise to 77,000 millionaires, it added. Despite financial turmoil and significant increases in the price of luxury goods, the report said the world’s millionaires have an“unquenchable appetite” for luxury items. Jewellery, gems and watches attracted the largest share of these “passion investment allocations” in Asia and the MiddleEast, the report said. Globally, these high-priced toys tend to be art collections, yachts, personal jets and similar items, the report added. But there are regional differences, with Asia’s millionaires allocating the most to items such as luxury and “experiential”travel, visits to high-end spas and designer clothes. — AFP
Indians, Chinese top world’s rich list
INDIA and China have the world’s fastest-growing populations of millionaires,with a penchant for luxury travel, gems and designer clothes, a study released yesterday revealed. The number of Indian millionaires jumped 22.7 per cent last year to 123,000, followed by China where the number jumped 20.3 per cent to 415,000, said the 12th annual World Wealth Report, prepared by US investment bank Merrill Lynch and information technology group Capgemini.“In the Asia-Pacific region, wealth is being created at an unprecedented rate,”said Mr Kong Eng Huat, South Asia market managing director at Merrill Lynch Global Wealth Management.“Not withstanding the recent dislocation in global markets, the robust economies in Asia are increasingly being driven by the domestic consumption story and continue to spur wealth creation in the region.”The report said China surpassed France as the world’s fifth-largest population of high net worth individuals, people with net assets of at least US$1 million excluding their primary residence. Also among the fastest-growing were South Korea, where the millionaire population rose by 18.9 per cent to 118,000, and Indonesia, which saw a 16.8 per cent rise to 23,000, the report said. Singapore saw a 15.3 per cent rise to 77,000 millionaires, it added. Despite financial turmoil and significant increases in the price of luxury goods, the report said the world’s millionaires have an“unquenchable appetite” for luxury items. Jewellery, gems and watches attracted the largest share of these “passion investment allocations” in Asia and the MiddleEast, the report said. Globally, these high-priced toys tend to be art collections, yachts, personal jets and similar items, the report added. But there are regional differences, with Asia’s millionaires allocating the most to items such as luxury and “experiential”travel, visits to high-end spas and designer clothes. — AFP
Source: Mediacorp Press, Today, World News // Thursday, June 26, 2008
Sunday, June 15, 2008
India - Land of Possibilities
BANGALORE AIRPORT
CINEMA IN BANGALORE
SQC INDIA OFFICEBeing a marketing executive, I was given a chance to travel in the course of my work. Business trips certainly added a brand new experience to me in terms of travelling! My previous holiday trips only allowed me to see what the tour guide wanted me to see. If I would to describe my trips as a cake, then the tour guide only showed me the surface which were the beautiful decorations. Business trips showed me the deeper level of the cake. It gave me the insight of how the cake was baked and what ingredients were used.
I was given the opportunity to visit India, Bangalore on a business trip. Capital of the Southern state of Karnataka. Bangalore is Asia's fastest growing cosmopolitan city. It is home to some of the most high tech industries in India. A new airport was built in Bangalore to welcome more visitors. I was one of the lucky few who get to enjoy the facilities when SIA landed at the newly opened Bangalore Airport. Free mineral waters were placed on the table for the passengers waiting at the belt to recover their luggage. Upon stepping out of the airport, cool weather welcome me.
The days that followed during my visit widened my horizon of insights in India. People over there are passionate about upgrading themselves. Their minds worked fast and constantly reviewed what worked best for them. They were not afraid to voice their opinions and provided suggestions that can be pretty outrageous! You would certainly be amazed if you were not used to such open "cross fire" kinds of discussion. Besides work, I got to catch a movie during my last day of the visit. I was greeted by the beautiful interior design at the cinema. At that moment, all the negative stories I heard about India never crossed my mind. In fact, I felt I was in one of the shopping centres in Singapore!
Do not be frightened by things you have heard about India. Go see for yourself. As of March 2008, there are 1.13 billion people in India. No doubt India is still a developing country. However, India is also the country that has the most billionaires! It is indeed a land of possibilities! If you have the courage and the persistence, anything can happen! Who knows, you might be the next billionaire in India!
I was given the opportunity to visit India, Bangalore on a business trip. Capital of the Southern state of Karnataka. Bangalore is Asia's fastest growing cosmopolitan city. It is home to some of the most high tech industries in India. A new airport was built in Bangalore to welcome more visitors. I was one of the lucky few who get to enjoy the facilities when SIA landed at the newly opened Bangalore Airport. Free mineral waters were placed on the table for the passengers waiting at the belt to recover their luggage. Upon stepping out of the airport, cool weather welcome me.
The days that followed during my visit widened my horizon of insights in India. People over there are passionate about upgrading themselves. Their minds worked fast and constantly reviewed what worked best for them. They were not afraid to voice their opinions and provided suggestions that can be pretty outrageous! You would certainly be amazed if you were not used to such open "cross fire" kinds of discussion. Besides work, I got to catch a movie during my last day of the visit. I was greeted by the beautiful interior design at the cinema. At that moment, all the negative stories I heard about India never crossed my mind. In fact, I felt I was in one of the shopping centres in Singapore!
Do not be frightened by things you have heard about India. Go see for yourself. As of March 2008, there are 1.13 billion people in India. No doubt India is still a developing country. However, India is also the country that has the most billionaires! It is indeed a land of possibilities! If you have the courage and the persistence, anything can happen! Who knows, you might be the next billionaire in India!
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