Asia Pacific is forecasted to be the leading region worldwide in terms of family office growth in the coming years, according to a Deloitte report.
Currently, families in Asia Pacific control an estimated $1 trillion in wealth, according to a Deloitte report, up 61 percent from 2019. This amount is forecasted to grow 29 percent to $1.3 trillion by 2025 and double to $2 trillion by 2030.
The future growth rate of family wealth in APAC is predicted to outpace all other regions. Between 2024 and 2030, family wealth in North America is expected to grow 71 percent from $2.4 trillion to $4 trillion while Europe will grow 65 percent from $1.7 trillion to $2.8 trillion.
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In line with wealth growth, Asia will also lead in terms of the growth of family offices being established moving forward. Today, the number of family offices in APAC is estimated to total 2,290 and this is expected to increase 40 percent by 2030 to 3,200.
In comparison, the number of family offices in North America is expected to increase 32 percent between 2024 and 2030 from 3,180 to 4,190. Europe is estimated to see 31 percent growth from 2,020 family offices in 2024 to 2,650 in 2030.
Deloitte’s report is based on a survey with 354 single family offices globally between September and December 2023. They have an average of $2 billion in assets under management and an average associated family wealth of $3.8 billion. The report also contains in-depth interviews with 40 senior family office executives.
