High net worth individuals flock to Asia, Australia and US
By Robbie Lawther, 1 May 19
Asian duo India and Sri Lanka made up the top five with an increase of 98% and 96%, respectively
The US was the largest private wealth market in the world with a total of $60.7trn held by individuals living in the country.
China was second with $23.6trn, while Japan came third with $19.1trn in private wealth.
Further behind were the UK and Germany in fourth and fifth, with $9.1trn and $8.7trn, respectively.
Looking 10 years into the future, the report expects that the US, China and Japan will remain the five largest private wealth markets – but will experience fairly different rates of growth.
Specifically, 20% in the US, 120% in China and 30% Japan.
The UK and Germany, however, will be ousted, and replaced by India with $22.6trn and Australia with $10.8trn in private wealth assets.