Comments
The investable wealth of high net worth individuals worldwide is expected to grow at an average of 6.9 per cent between 2013 and 2016 to touch $64.3 trillion, according to the new Capgemini-RBC Wealth Management ‘World Wealth Report 2014’. The largest growth is expected to be seen in the Asia-Pacific region, rising by 9.8 per cent to $18.8 trillion.
This would mark the first time in history that the North American region’s wealth will be surpassed, since it is only expected to grow by 6.4 per cent — lower than the global average — to $17.9 trillion. The pace of wealth creation among HNIs in Europe is also expected to accelerate at a faster pace, growing by 7.1 per cent annually to touch $15.2 billion, making it the third wealthiest region on the globe.
Latin America, on the other hand, is likely to see the poorest expansion in HNI wealth during the period, gaining just 2.3 per cent to $8.2 trillion. HNI wealth in West Asia will grow by an average of 6.6 per cent over the three-year period, according to the report, while African HNIs will see their wealth rise by 6 per cent to a cumulative $1.6 trillion.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.