June 24, 2016

Asia now has more superrich than North America and they have more cumulative wealth as well

The 2016 CapGemini wealth report shows that Asia now has more superrich than North America.

Over the last 20 years the global high net worth individuals (HNWI, millionaires and billionaires) have increased by four times.

The Asia-Pacific region has 5.1 million HNWIs, compared to North America’s 4.8 million, but for the first 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.

SOURCES - CapGemini

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