- January 1, 2016: Vol. 3, Number 1

To read this full article you need to be subscribed to Real Assets Adviser

Lap of Luxury: Number of high-net-worth individuals being created in Asia is multiplying quickly

by Jennifer Molloy

Luxury is the name of the game for many high-net-worth individuals seeking to enjoy their lives by doing whatever they choose with all that money, and high-net-worth individuals in Asia are no exception.

Julius Baer recently released its fifth annual Wealth Report: Asia, which tracks the cost of luxury goods and services, along with wealth creation, in 11 Asian cities — Bangkok, Hong Kong, Jakarta, Kuala Lumpur, Manila, Mumbai, Seoul, Shanghai, Singapore, Taipei and Tokyo. According to the report, the pool of investable assets held by high-net-worth individuals in Asia could reach $14.5 trillion by 2020, amounting to growth of 160 percent in the next five years.

Of this amount, Chinese high-net-worth individuals are the projected regional leaders, with wealth of $8.25 trillion expected by 2020 (up from $5.1 trillion anticipated for 2016). Thomas Meier, region head Asia Pacific with Julius Baer, says in a statement: “Our forecasts reflect the belief and con

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy