12,000 more millionaires in the Midlands
The Midlands is home to the second highest number of millionaires in the country. According to a report by Barclays Wealth, the number of millionaires in the region has increased by 15 per cent in the last two years.
It is estimated that 92,000 millionaires now live in the Midlands, compared to 80,000 two years ago.
The report, entitled the ‘Barclays Wealth 2011 UK Wealth Map’ suggests that the Midlands has the highest number of millionaires outside of London and the South East.
The 2011 UK Wealth Map predicts that the number of millionaires in the Midlands will grow by almost a third (30 per cent), meaning there will be nearly 120,000 millionaires in the region by 2020.
Ben Gulliford, Barclays Wealth’s regional centre head, said: “Despite one of the deepest recessions ever experienced by this country, these findings indicate that wealth creation is starting to recover in the Midlands and this trend is set to continue at a steady pace.
"We are hopeful that this will contribute to growth in the wider economy and help boost regional expansion in and around Birmingham in the coming years.”
The report was produced by Barclays in conjunction with Ledbury Research.
