Global HNWI Population and Wealth Expanded, but at a Slower Pace


While HNWI¹ wealth growth was a modest 4% in 2015, HNWI wealth continued to hit new record highs, aided especially by Asia-Pacific overtaking North America as the number one wealth market. Faltering growth in the Americas constrained global HNWI wealth expansion.
 
Japan and China emerged as engines of global growth, registering double-digit increases in HNWI population and ultra-HNWI wealth growth. Together, the two countries drove nearly 60% of global HNWI population growth. Brazil was the poorest performing country, losing 7.8% of its HNWI population and 5.9% of ultra-HNWI² wealth.
 
Ultra-HNWI wealth, long a driver of overall HNWI wealth, did not provide its usual boost in 2015. Dampened by Latin America, the global ultra-HNWI population expanded by just 4.2% and wealth by only 2.5%.
Excluding Latin America, however, ultra-HNWI wealth grew more than the other wealth segments, both in 2015 and over the past four years.
 
Global HNWI wealth is projected to nearly triple in size from 2006-2025 to surpass US$100 trillion by 2025, propelled by strong Asia-Pacific growth. If past growth rates hold, Asia-Pacific is likely to continue to be a dominant force over the next decade, representing two-fifths of the world’s HNWI wealth, more than that of Europe, Latin America, and the Middle East and Africa combined.

Largest HNWI Populations, 2015 (by Market)

Largest HNWI Populations, 2015 (by Market)

Note: Chart numbers and quoted percentages may not add up due to rounding
Source: Capgemini Financial Services Analysis, 2016; World Wealth Report 2016, Capgemini
¹ HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables.
² For the purpose of our analysis, we separate HNWIs into three distinct wealth bands: Those with US$1 million to US$5 million in investable wealth (millionaires next door); those with US$5 million to US$30 million (mid-tier millionaires); and those with US$30 million or more (ultra-HNWIs)