Fewer Dutch millionaires, and they are getting poorer

The economic crisis has led to a 5% reduction in the number of millionaires in the Netherlands, according to international research by the Boston Consulting Group and quoted in Monday’s Financieele Dagblad.

In 2011, the Netherlands had 152,000 millionaires, a drop of 5,000 on 2010, and their assets have shrunk 4%, the consultancy says.
Nevertheless, with 2.1% of all households classed as millionaire families, the Netherlands is 15th on the global rich list, the research states. The families in turn own 20% of the country’s assets. Worldwide, 0.9% of the population controls 40% of the assets, BCG says.
Singapore has the most millionaires. Over 17% of households have over a million dollars at their disposal.
BCG says one reason the Netherlands has so many millionaire households is the fact that pension schemes – considered a sort of savings – are included in the calculations.
The drop in Dutch millionaires’ assets is partly due to people using savings to pay off debt and mortgages, BCG partner Ian Wachters told the paper. Property is not included in the BCG statistics.