The high net worth individual (HNWI)
population of Asia-Pacific has gone past North America for the
first ever time, new research suggests.

The RBC/Capgemini report estimated the number
of Asia-Pacific HNWIs rose 1.6% to 3.37m in 2011 – which was twice
the global HNWI growth rate.

However, there are some surprising regional
results which have led to uneven growth in Asia-Pacific.

The key change was that the previous front
runners, India and Hong Kong, suffered serious slumps.

WealthInsight analyst Andrew Amoils said:
“Indonesia’s strong performance came as little surprise as it has
been the stand out country for HNWI growth for a few years now.

“We expect Indonesia to be the top performing
country in the region over the next five years with HNWI growth of
over 18% per annum up until 2016.”

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India & HK slumps

  • The report said that India lost 18% of its HNWIs in 2011, while
    Hong Kong lost 17.4%.
  • The research suggests that these losses could be attributed to
    sliding equity indices from 31 December 2010 – 31 December
    2011.
  • India equity prices dropped a staggering 38% while Hong Kong’s
    dropped by 18.4%. The two countries had led HNWI growth for the
    previous two years.

SE Asia going
strong

  • Thailand’s HNWIs rose the most in the region at 12.8% in 2011,
    with Indonesia and China showing solid growth at 8.2% and 5.2%
    respectively.
  • Indonesia recorded positive equity indices growth from 2010 –
    2011 at 31.2%, although China’s indices dropped by 20.3%.