Asia-Pacific Wealth Report 2012

Key Findings

In 2011, Asia-Pacific became home to the largest population of high net worth individuals (HNWIs), surpassing North America for the first time. Asia-Pacific’s HNWI population is unique in its composition and growth, presenting special challenges for wealth management firms. For instance, much of the wealth is newly generated, and a large proportion of HNWIs are entrepreneurs or heirs of entrepreneurs.

• Asia-Pacific sees steady but uneven growth as HNWI population grew 1.6%, reaching 3.37 million HNWIs and surpassing North America for the first time
• Markets in the region are growing at very different rates with HNWI population growth seen in Thailand (12.8%), Indonesia (8.2%), China (5.2%), and Japan (4.8%) and declines in India (down 18%) and Hong Kong (down 17.4%)
• Asia-Pacific had seven of the top 20 fastest growing HNWI populations globally in 2011
• 'Millionaires Next Door' increased in population by 1.9% and in wealth by 1.5% while the wealth of Asia-Pacific's mid-tier and Ultra-HNWIs dropped in 2011 by 5.2% and 1.9% respectively, due to their exposure in higher risk assets
• Asia-Pacific offshore wealth centers, led by Hong Kong and Singapore, are becoming increasingly favored destinations by high net worth individuals (HNWI)
• 2012 Asia-Pacific Wealth Report finds talent gap biggest hurdle to regional expansion by wealth management firms