by a marginal 0.8 % year on year to 11 million in 2011. This pace was sluggish compared to growth rates of 17.1 % in 2009 and 8.3 % in 2010.
The aggregate financial wealth of these HNWIs also declined by 1.7 % to USD 42 trillion in 2011, mainly due to challenging global macroeconomic conditions and volatile global financial markets, the report said.
This rate of growth in 2011 was much slower than 18.9 % clocked in 2009 and 9.7 % logged in 2010 given the significant rebound from crisis-related losses post the global financial crisis, it added.
Asia Pacific was the star performer, which saw the number of HNWIs in the region rise by 1.6 % year on year to 3.37 million individuals in 2011 -- the first time that as a region Asia Pacific surpassed North America in terms of HNWIs.
However, in terms of asset values, the financial wealth of Asia Pacific HNWIs stood at USD 10.7 trillion in 2011, a slight decline of 1.1 %. In 2011, Hong Kong and India were hit by declines in their equity markets' capitalisation
In Hong Kong, concerns on the European sovereign debt crisis weighed on the outlook for growth.
Meanwhile in India, sentiments were subdued due to factors including perceived slow pace of domestic reforms.
Elsewhere in Singapore, financial wealth was impacted by the sharp drop in export revenues. In contrast, Thailand's financial wealth rose on the back of significant real estate gains as well as a solid growth performance, the report said.
In the Middle East, the number of HNWIs increased by 2.7 % to 0.45 million individuals. Total financial wealth of the Middle East HNWIs grew by 0.7 % to USD 1.7 trillion.
Globally, the US, Japan and Germany combined accounted for 53.3 % of the world's HNWI population in 2011, up from 53.1 % in 2010, it said.
However, the share of global HNWI population held by these three countries combined has been eroding gradually from 54.7 % in 2006. The HNWIs of emerging and development countries continue to grow faster than those of developed countries.
Since the 1970s, when GCC oil companies were nationalised and oil prices surged, the region's GDP as well as individual fortunes have grown significantly, it added.