25 Mar 2021
The Wealth Report 2020: Insight 4 of 6
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
According to The Wealth Report, Russia & CIS (Commonwealth of Independent States) which unites Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Uzbekistan and Ukraine is forecast to see the biggest rise of the mass affluent at 144% by 2025.
The mass affluent are defined as households earning an income of US$100,000 (AU$131,000) per annum or more.
This is closely followed by Africa at 139% and no doubt these numbers are coming of a relative low base.
Asia however is still forecast to see the biggest rise in the number of HNWI and UHNWI at 46% and 39% respectively by 2025.
Interestingly, Indonesia is expected to outpace India by 2025 in terms of the percentage increase in the number of UHNWI, defined as individuals who have over US$30m (AU$39m) in assets including their primary residence.
It is difficult to see a scenario for this not being the Asian Century.
Click for chart.
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