Julius Baer releases comprehensive report on wealth in Asia

Swiss private banking group, Julius Baer published earlier this month its first ‛Julius Baer Wealth Report’, focusing on Asia, providing a comprehensive and exclusive analysis of the High Net Worth Individuals (HNWI) in this region.

The report has been prepared in close cooperation with CLSA, Asia’s leading independent brokerage and investment group. Benefiting from Julius Baer’s on-the-ground presence in Hong Kong and Singapore, the report examines the drivers of wealth creation in ten of the most significant economies in Asia Pacific and forecasts the future size of the HNWI market by country. 

Key findings:

For 2011 and 2012, Julius Baer forecasts that China and India together will contribute over 40% of global growth alone. The current deterioration in global economic conditions will see further supportive, pro-growth policies from China in the months ahead.

The estimated 1.16 million HNWIs across Asia with wealth of USD 5.60 trillion in 2010 is forecast to more than double to 2.82 million with wealth to almost triple to USD 15.81 trillion by 2015.

China alone is forecast to have 1.40 million HNWIs with stock of wealth of USD 8.76 trillion by 2015.

Indonesia stands out with the highest growth rate in terms of numbers of HNWIs over the 5-year-period with 25% – rising to 99,000 with a stock of wealth of USD 487 billion by 2015.

Currency appreciation is key: The varying rates of rising currencies across Asia may create 600,000 new US dollar-based millionaires by 2015.