The Asia-Pacific region is expected to become the largest high-net-worth wealth market by 2015, and possibly as early as 2014, according to the 2013 Asia-Pacific Wealth Report, published by CapGemini and RBC Wealth Management.
The region’s annualized growth rate from 2012 to 2015 will be 9.8%, the report said, compared with 5.3% for the rest of the world. This puts Asia-Pacific’s wealth on track to reach $15.9 trillion by 2015.
Since 2007, Asia Pacific’s HNW population has surged by 31% and its wealth by 27%, well ahead of 14% and 9% increases, respectively, in the rest of the world.
Even so, strong HNW population growth in 2012 allowed North America, with 3.73 million wealthy people, to regain the top spot from Asia-Pacific, with 3.68 million, after falling to No. 2 in 2011.