Even wealthy people have to borrow money sometimes.
The annual Capgemini and RBC Wealth Management World Wealth Report asked high-net-worth individuals, or HNWIs - people with investable assets of $1 million or more, excluding primary residence, collectibles, consumables, and consumer durables - what percentage of their personal assets is financed by borrowed money or credit.
Latin America had the highest amount of HNWI credit, at 28.6%, followed by the Asia-Pacific region, excluding Japan, at 25.5% and the Middle East and Africa at 25.4%.
On average, 17.8% of HNWIs use credit, across the map. Here are the totals:
World Wealth Report
The report also found that HNWIs who are younger, wealthier, and female tend to use the most credit.
Check it out:
World Wealth Report