The economic and financial crisis of the last 18 months has transformed the global map of the world’s wealthiest people, with Europe nudging out North America as the richest region, according to a new report by The Boston Consulting Group.

BCG's said that global wealth fell 11.7% to $92.4 trillion in 2008 - the first decline since 2001. BCG said it is unlikely to return to its pre-2007 levels for four years.