Cap Gemini and RBC Wealth Management have presented their much anticipated 2015 World Wealth Report which reveals that Asia-Pacific overtook North America to become the region with the largest HNWI population at 4.69 million.
However the report showed that the global HNWI population and wealth grew at a slower pace. Going forward the global HNWI wealth is forecast to cross US$70 trillion by 2017 growing at an annualised rate of 7.7 % from the end of 2014.
Asia Pacific recorded the highest growth of HNWI in 2014 with India and China emerging as key drivers a trend that is likely to continue over the coming years and will see Asia pulling ahead in the long haul. Hong Kong HNWI's were helped by robust real estate investments.
The report noted that Asia-Pacific HNWI’s lead the trend of using credit for investments, although Japanese HNWI’s use credit the least. Their primary reason for Japanese to use credit is to fund investments of passion a key difference from HNWi’s in any other region.
