The number of affluent individuals increased more in Africa than in any other region in 2005, according to a new report by Capgemini and Merrill Lynch. Although less than 1 percent of the global population with more than $1 million in financial assets resides on the continent, their numbers grew 11.7 percent over 2004. The worldwide size of that group increased 6.5 percent.

Africa was followed by the Middle East (9.8 percent growth), Latin America (9.7 percent) and Asia-Pacific (7.3 percent). North America and Europe ranked at the bottom of regional growth, with increases of 6.9 and 4.5 percent, respectively.

The study, Asia-Pacific Wealth Report, also finds that among individual countries, South Korea and India show the fastest-growing segments of high-net-worth individuals, with increases of 21.3 and 19.3 percent, respectively. The report’s authors attributed South Korea’s jump to a surging Kospi stock index, which rose 54 percent in 2005. It attributed India’s boost to rises in GDP and market capitalization, as well as increased public and private consumption in the country.

—Andrew Farrell