Ireland's 15,000 highest "net worth" individuals are worth around $52 billion (€43.05 billion), up $1 billion on the previous year, a new survey estimates. This works out at almost $3.5 million each on average.

The world's richest people saw their wealth rise 7.7 per cent to $28.8 trillion in 2003, taking it back to levels before the collapse of the dotcom stock market boom four years ago, the survey found.

There were an estimated 7.7 million "high net worth" individuals in the world at the end of 2003, 500,000 or 7.5 per cent more than in 2002, according to the research by IT services firm Cap Gemini and investment bank Merrill Lynch.

"As in previous years, high net worth individuals were quick to respond to global trends affecting their ability to preserve and grow wealth. They benefited from a strong stock market rally and solid, global economic growth. Wealthy investors were able to capitalise on these trends despite a great deal of geopolitical uncertainty," said Mr Nick Tucker, Market Leader of Global Private Client group for the UK and Ireland.

Rallying stock markets helped more people get rich in Britain and put the UK in the global top 10 for growth in high net worth individuals - classed as those with financial assets of at least $1 million excluding home real estate - the survey revealed.

It found that 383,000 people joined the high net worth bracket in Britain last year, an increase of 8 per cent. Their combined wealth also rose 8 per cent, to $1.34 trillion.

Wealth creation varied from country to country, with Asia and North America seeing growth of 10 per cent and 13.6 per cent respectively. Europe showed a more modest increase, with growth in wealth creation up 3.7 per cent.