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Please see the press release below from WealthInsight, the London based global wealth consultancy, which has conducted an in-depth analysis of the Polish high net worth community.

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This press release is part of WealthInsight’s upcoming report on Poland entitled: Poland 2012 Wealth Book: The rising star of Europe

PRESS RELEASE

The number of Polish millionaires is forecast to grow by 40% by 2017, to reach almost 40,000. Polish millionaire volumes dropped in recent years on the back of declines in equities and property prices; but numbers rose by almost 12% in 2012 and are forecast to continue to increase in the years ahead, led by new entrepreneurs.

Key findings:

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  • In 2012 there were 8.2% – about 2,500 – fewer Polish millionaires than in 2007; 30,954 HNWIs in 2007 compared with 28,408 HNWIs in 2012.
  • During the pre-crisis boom period (2005- 2007), the number of Polish millionaires had more than doubled.
  • Today Polish high net worth individuals (HNWIs) hold $139 billion in wealth, approximately 16% of total individual wealth held in the country in 2012.
  • This is well below the global average of 29%, showing scope for growth in the wealth sector.
  • Looking ahead to 2017, the total number of Polish HNWIs is forecast to grow by 40%, to reach almost 40,000. HNWI wealth will see a slightly smaller percentage increase, growing by 39% to reach $193 billion.
  • Core millionaires, those individuals with wealth of between $1m-$30m excluding primary residence, collectively account for 98% of HNWIs in Poland and 63% of Polish HNWI wealth.
  • There are 487 UHNWIs in Poland, those individuals with wealth above $30m, with an average wealth of $104 million per person.
  • Entrepreneurs make up the majority – 58% – of Polish ultras.
  • Inherited wealth makes up a relatively low percentage (7.5%) of multi-millionaires in the country, especially when compared to more developed wealth markets like the United States (30%).
  • The country’s capital, Warsaw, is home to over a third (35.1%) of ultra-wealthy individuals.

For more information, please find a summary of our data in the briefing attached.