668,000 new millionaire households in canada by 2020: deloitte

For all those worried that new wealth can only be generated in emerging markets and the developed world is in terminal decline can rest assured.

The developed markets of Canada, the United States, Japan and Germany will continue to remain robust engines of wealth creation and have some of the biggest concentrations of millionaire households by 2020, according to a Deloitte LLP report.

Canada will have nearly 668,000 new millionaire households by 2020, taking their overall tally to 2.4 million, the eighth largest concentration of millionaires among the 25 countries surveyed.

Their combined wealth will stand at a staggering $6.77-trillion, nearly double the current level of $3.35-trillion, generated by 1.75 million millionaire households.

Source: Financial Post