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The population and wealth of Asia-Pacific's high net worth individuals (HNI) increased three times over the last five years (2007-2012) when compared to other countries in the world.
Asia-Pacific Wealth Report 2013 (APWR) published today by Capgemini and RBC Wealth Management shows that, "In 2012, the HNI population of the Asia-Pacific region expanded by 9.4% to reach 3.68 million, whereas their wealth increased by 12.2% to reach $12 trillion."
HNIs are defined as those having investable assets of $1 million or more, excluding collectibles, consumables, and consumer durables.
The HNI wealth created in Asia-Pacific has reached record high levels as compared to the wealth created across all HNIs globally.
Hong Kong and India experienced the most significant gains in HNI population and wealth in 2012, following steep declines in 2011. The HNI population in India grew by 22.2% and their wealth by 23.4% respectively. 95.7% Indian HNIs overall are extremely positive that they can build wealth in the near future.
The report further states that Asia-Pacific will continue to remain in the top on the back of strong projected HNI wealth which is expected to grow at 9.8% annually to reach an anticipated $15.9 trillion by 2015.
“The wealth created in the Asia-Pacific market positions it to become the largest wealth market by population by 2014,” says M. George Lewis, Group Head, RBC Wealth Management & RBC Insurance. He further said that, “The region’s high net worth population and wealth has increased by 31% and 27% respectively since 2007, far outpacing growth in the rest of the world of 14% and nine%.”
This survey was done with responses across 1,400 HNIs in Australia, China, Hong Kong, India, Japan, and Singapore (and over 4,400 HNIs in total).
