TTGasia.com, Jul 4 – 10, 2008

For travel suppliers – especially hotel developers caught up in what can only be described as an arms race to ramp up the deluxe quotient of their properties – a new report by Merrill Lynch and consulting firm Capgemini Group should make encou­raging reading. According to the report, the number of people around the world with at least US$1 million in assets, excluding property, surpassed 10 million for the first time in 2007, the same year when the sub-prime crisis was added to investors’ vocabulary. Their combined wealth grew by nine per cent over the previous year to nearly US$41 trillion. This puts average wealth at more than US$4 million each.

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