Affluent households:US 1st,India 2nd

Mumbai: Strange as it may sound, with as many as one-third of its population still living in poverty, the country is also home to the second largest number of affluent people with a whopping three million households which have over USD one lakh of investible funds.

According to a survey by the global market research agency TNS, while the US still is the world`s most prosperous country with 31 million affluent households, India, China and Brazil have overtaken many European countries in this measure of consumer wealth with three million affluent households each in these countries which have over USD one lakh investible funds.

In other words, as many as 27 percent American households are affluent, while this is only 1.25 percent and 0.75 percent in regard to India and China respectively, thanks to the sheer size of their population. Though the cut-off money is USD 1 lakh for all the countries it is just USD 40,000 in Brazil, where this 3 million households constitute five percent of the overall number of households.

However, it is Luxemburg that has the highest penetration in terms of percentage with 29 percent penetration, but in absolute numbers the number of affluent households is only 89,000, followed by the US with 27 percent penetration, Canada and Singapore 20 percent each with 2.6 million and 2,30,000 households respectively.