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The wealth of affluent and mass-affluent segments in Asian economies has reached a turning point. A McKinsey analysis has revealed that the wealth pool of this group is projected to hit $4.7 trillion by 2026, up from $2.7 trillion in 2021, thanks to the rise in their incomes. This development has created a new market opportunity for banks and asset managers, The Financial Express (FE) reported.
It is important to note that "mass affluent" is a term used to describe a prosperous household earning an annual income of more than $75,000 and holding between $100,000
