Indians getting richer by the day: Wealthy count up by 26 pc

Indians getting richer by the day: Wealthy count up by 26 pc
Highlights

Despite the economic slowdown in India and China, both the countries have maintained their leadership in boosting the growth of high net worth individuals (HNWIs) in the Asia-Pacific region.

Despite the economic slowdown in India and China, both the countries have maintained their leadership in boosting the growth of high net worth individuals (HNWIs) in the Asia-Pacific region.


Almost 10 per cent of global HNWI wealth is represented by India and China with account for 17 per cent of the global increase in new wealth since 2006. China witnessed growth in its HNWI population by 17.5 per cent to 8,90,000 in the year 2014 while India recorded highest percentage point gains with 26.3 per cent to 1,98,000 rise in its HNWI population and wealth by 28.2 percent to $785 billion.


Capgemini and RBC Wealth Management who published the Asia-Pacific Wealth Report 2015 on Thursday stated that the HNWI population growth in the Asia-Pacific region witnessed a rise from 8.5 per cent in 2014 to 4.7 million people and wealth increased 11.4 percent to $15.8 trillion.


According to the recent World Wealth Report 2015, the Asia-Pacific region surpassed North America with 4.69 million HNWI population compared to North America’s 4.68 million and by the end of the year, it is expected to beat North America’s leading $16.2 trillion in HNWI wealth.


Head of RBC Wealth Management in Asia, Barend Janssens said that Asia-Pacific continues to run tremendously in wealth creation and is expected to lead global growth thus providing opportunities for the wealth management firms positioned to meet the increasingly complex needs of HNWIs in the region.

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