Asia-Pacific has overtaken North America as the top spot for the super-rich. The wealth of high net worth individuals in the Asia-Pacific grew by 10% or almost five times North America’s 2% growth for high net worth individuals (HNWI) last year, according to the World Wealth Report released Thursday by Capgemini, a global consulting, technology and outsourcing service. There was a big drop from North America’s 9% HNWI growth rate the year before, dragged down by poor performance of U.S. and Canadian equities. The World Wealth Report covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization.
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The Asia-Pacific region has 5.1 million HNWIs, compared to North America’s 4.8 million, but for the firs time has also pulled ahead in terms of wealth. The region has $17.4 trillion held by HNWIs versus $16.6 trillion in North America and $13.6 trillion in Europe. The global figure is projected to surpass $100 trillion by 2025 — nearly triple the amount in 2006 — if the growth rates of the last decade continue, propelled predominantly by Asia-Pacific countries. Japan and China drove close to 60% of the global HNWI population growth in 2015. HNWIs are defined as those having investable assets of $1 million or more, excluding primary residence and other consumer goods......
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Poster Comment:
Wonder if a billionaire chart would show the same proportions.... or one showing either per capita.