Asia Pacific is now world’s second wealthiest region and will overtake North America this year
06:00 PM 06/15/2015
BCG issued its annual report about Wealth Management: Global Wealth 2015. The report notices some important facts about the wealth in the world:
Global private financial wealth grew 11.9% in 2014 reaching $222T with Asia Pacific ex. Japan and Eastern Europe leading the growth. It is projected to grow at 6.2% CAGR until 2019
Almost all the wealth is now being created in Asia-Pacific ex. Japan: 61% of new wealth was created there in 2014
For the first time in the survey’s 15-year history Asia Pacific ex. Japan overtook Europe to become the world’s 2nd region by accumulated wealth
Asia new wealth creation has much higher reliance on savings rate vs. the rest of the world. Eastern Europe (mostly Russia), Middle East, Africa and Latin America - on cash and deposit returns.
The UHNW segment (>$100m) will be the fastest growing in both wealth and number of households through 2019
US, UK and Switzerland are top-3 financial centres with Hong Kong number forum
Latin America, Eastern Europe (mostly Russia) and Asia Pacific ex. Japan are projected to have the fastest CAGR in private financial wealth until 2019
