Recently, CNNMoney reported that although the “Great Recession” still appears to have a strong grip around the world, the number of millionaires in the U.S. and across the world will actually grow rapidly over the next decade.

This amazing fact is contrary to the $15.5 trillion in household wealth that was eliminated just in the United States.

A report by the Deloitte Center for Financial Services concludes that by 2020, the total number U.S. families with a net worth of over $1 million (that includes real estate) is forecasted to double.

It may surprise many that China will be the leader in millionaire growth, followed by Brazil, then Russia. Despite this, the U.S. and Europe still hold the greatest concentrations of wealth around the world.

By 2020, both China and South Korea will hold spots in the top 10 of countries with the greatest total number of families worth more than a million dollars.

The U.S. is clearly the leader today in number of millionaire households – about 10.5 million in total. The forecast is the U.S. will reach approximately 20.6 million by 2020.

By 2020, the U.S. will have a total of 43% of the world’s wealth held by millionaire households.

Japan ranks second but there is a significant gap between number 1 and 2. By 2020, Japan is forecasted to have 8.6 million millionaire households or 9% of the world’s wealth.

Although China gets a lot of attention regarding its booming economy, it will still only rank No. 7, with 2.5 million millionaire households in 2020 and 4% of the world’s wealth.

Billionaire Ty Warner’s has a luxury pad at the Four Seasons New York. The Beanie Baby tycoon spent a jaw-dropping $50 million to create the 4,300-square-foot suite and is charging guests $30,000 a night to stay in it.

Spending top dollar is the norm for millionaires who travel. There are obviously many jet-setting millionaires (and billionaires) who don’t think twice about dropping tens of thousands of dollars on a luxury pad in a foreign city.

After all, while Warner’s suite at the Four Seasons has earned the title of “most expensive hotel room in the United States” there are other resorts with rooms that come with five-digit price tags.

For instance, the Ritz-Carlton Tokyo has a suite listed for $22,000 a night, while the Ritz-Carlton Moscow has a room listed for $19,600 a night. Putting both to shame is the yet-to-be open suite at the Palms casino in Las Vegas. The $40,000-a-night Hugh Hefner Sky Villa, a Playboy-themed extravagance, will cost you a whopping $40,000 a night.

So who, exactly, has the means to plunk down $20,000 for a hotel room? The answer may surprise you.

According to hotel staff, most of the rich guests are not rock stars or movie stars; rather they are super-wealthy globetrotters (business owners and entrepreneurs) who expect to stay in accommodations that are on par with their own palatial mansions. You know the types. They don’t think twice about shelling out $40 for a hamburger and they certainly don’t wince at dropping a few grand for a hotel room that has the same luxurious furnishings as their own homes.

According to managers at the Four Seasons New York, home to two $15,000-a-night Presidential suites, during the months of September, October, November, and December (the peak season for New York hotels) the lofty suites are booked solid.

The merchandise is eye-popping, the prices astronomical and the clientele, not exactly old money. Millionaires are being created like no other time in history.

Now a growing number of self-made millionaires are changing the face of the luxury market, demanding the kind of lavish lifestyle that used to be reserved for royals. Full article