For the complete report from the WSJ.com click on this link
Europe Overtakes US as Wealthiest Region
The economic and financial crisis of the last 18 months has transformed the global map of the world's wealthiest people, with Europe nudging out North America as the richest region, according to a new report by The Boston Consulting Group. Global wealth fell 11.7% to $92.4 trillion in 2008. The first decline since 2001. BCG said it is unlikely to return to its pre-2007 levels for four years. North America saw the biggest decline in wealth, falling by 21.8% last year. The big drop was partly put down to the large percentage of wealth held by Americans in equities. Latin America was the only region where wealth grew, by 3%. Total wealth in Europe fell 5.8% to $32.7 trillion last year. Offshore wealth fell by 8.2% to $6.7 trillion last year. Switzerland remained the largest offshore center, accounting for 28% of the total.
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