HONG KONG: Asia-Pacific recorded robust HNWI population and wealth growth rates (8.5% and 11.4%, respectively), highest across the globe, and edged past North America to become the region with the most HNWIs at 4.69 million.
According to a release from Capgemini, on the wealth front, Asia-Pacific is still second to North America but registered the greatest gain to reach US$15.8 trillion. Asia-Pacific is expected to surpass North America on wealth terms in 2015.
Further, Asia-Pacific (excl. Japan) GDP expanded by 5.8%, which was consistent with 2013 (5.7%).
In 2014, Asia-Pacific accounted for 34,000 Ultra-HNWIs, representing a growth of 14.3% over 2013 and comprising 0.7% of the Asia-Pacific HNWI total.
