Skandia International's latest research reveals the financial outlook of millionaires living in the UK, France, Italy, Hong Kong, Singapore, and Dubai.
The Skandia Millionaire Monitor+ report, provides a snap-shot of the lifestyle and attitudes of very wealthy people across six countries showing how these turbulent economic times are impacting on those with significant wealth.
The research reveals that internationally the top three industries to accumulate wealth arefinance (particularly Italy), manufacturing (Dubai) and the service industry (also notably in Dubai). Hong Kong appears to be the place to make a fast buck - two thirds of the wealthy entrepreneurs there made their money within five years. By contrast, just one in 10 did so in Italy.
When asked about their wealth outlook, local economic uncertainty is perceived as the greatest threat to wealth in the UK, France and Dubai. But in Hong Kong and Singapore, the wealthy are most concerned with overseas economic uncertainty and a stock market crash.
As for attitude to risk, the Italians showed the highest appetite for risk, while the wealthy in Hong Kong, Singapore and the UK reveal themselves to be reasonably risk tolerant.
Italian millionaires Italians confirm their preference for investing in Italian property, with 56% of them owning multiple properties. This is in contrast to the wealthy in Dubai who are more likely to own property outside the country.
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