Total millionaire count increased _6,3% y/y in 2020. Global high-net-individual (HNWI) population surpassed 20M. HNWI wealth grew +7.6% in 2020 nearly hitting $80T.
North America Surpassed Asia-Pacific to Become 2020 Leader in Both High-Net-Worth-Individual Population and Wealth
The newly released 25th Anniversary Edition of Capgemini’s World Wealth Report (WWR) indicates that North America ranked number one in both the high-net-worth-individual (HNWI) population and HNWI wealth in 2020.
Overall, the global HNWI population increased by +6.3% and exceeded 20M. The ultra-HNWI segment led overall HNWI population and wealth growth at +9.6% and 9.1% respectively. The millionaire-next- door and mid-tier millionaires had smaller population and wealth growth at approximately 6% and 8% respectively.
Wealth-X’s World Ultra Wealth Report 2021 Findings
Findings of the ninth-edition of Wealth-X’s World Ultra Wealth Report 2021 were consistent with Capgemini’s latest report. Here is the rank and wealth (in US dollars) of HUNW populations in 2020:
- US
- Growth of 101,240 or +8% y/y in UHNWI population
- Net worth – $11.282B
- China
- Growth of 29,815 or +8% y/y in UHNWI population
- Net Worth – $3.482B
- Japan
- Growth of 21,300 or +7.5% y/y in UHNWI population
- Net worth – $1.853B
- Germany
- Growth of 15,435 or -3.3% y/y in UHNWI population
- Net worth – $1,905B
- Canada
- Growth of 11,010 or -2.4% y/y in UHNWI population
- Net worth – $1,186B
- France
- Growth of 9,810 or -10.8% y/y in UHNWI population
- Net worth – $1,163B
- Hong Kong
- Growth of 9,435 or -5.1% y/y in UHNIW population
- Net worth of $1,253B
- United Kingdom
- Growth of 8,765 or -9.5% y/y in UHNWI population
- Net Worth of $1,026B
- Switzerland
- Growth of 7,320 or +1.9% y/y in UHNWI population
- Net worth of $7,320B
- India
- Growth of 6,380 or -2.0% y/y in UHNI population
- Net Worth of $901B
These above ten countries are home to 75% of the global UHBWI population.
San Jose CA has the highest density of UHNWI individuals in the world with one in very 727 city residents being UHNWIs.
HNWIs Now Seeking Broader Advisory Support
Similar to their increasing involvement with real estate acquisitions and investments, HNWIs are now much more “involved” in all their investments than they were just 20 years ago. They want a mix of both digital and direct interaction since they are “self-directing” their investments in bullish markets and wanting advice during bearish and more volatile markets. Wealth management firms are leveraging WealthTech services to enhance their market trend responsiveness.
HNWIs expect BigTech strategies with hyper-personalization, lifestyle ecosystem offerings and intuitive embedded interfaces.
Pay attention real estate service providers.
Thanks to Campgemini and Wealth-X.
