Asia Wealth Report has just been published by Julius Baer and they have also announced the Julius Baer Lifestyle Index. We all know the Swiss banks are some of the most progressive and successful banks in the world. Julius Baer is the leading Swiss bank and now they have unveiled a list of High Net Worth Individuals (HNWI) of Asia and how they affect the ecosystem of the world.
The extensive analysis and comprehensive report suggests that the future of High Net Worth Individuals (HNWI) in Asia is a really intriguing and interesting component of today’s luxury atmosphere. Julius Baer’s on-the-ground presence in Hong Kong and Singapore helped it to come up with many conclusions and hypothesis about HNIs in Asia.
China and India apparently will contribute to 40% of global growth in 2011 and 2012. However, Chinese policies seem to be more growth oriented and progressive. There are almost 1.16 million HNWIs in Asia and the wealth amounts to USD 5.60 trillion in 2010. It is expected to triple in the year of 2015 to USD 15.81 trillion. China is expected to have 1.40 million HNWIs by 2015 and with a wealth of USD 487 billion by 2015, Indonesia has the highest growth rate. The findings also suggest that new opportunities may create 600,000 new US dollar-based millionaires by 2015.
Some of the techniques and analysis included how this new found wealth would affect environment, philanthropy, investing, lifestyle and education in the region. Hong Kong, Shanghai, Singapore, and Mumbai apparently are the most important cities in the region and Hong Kong no doubt is the most affluent. You could take a look at the Asia Wealth report and how the Rich live. The Rich in US is another interesting article that we had written earlier.