Asia is set to be the growth engine for future wealth, according to a Knight Frank report that forecasts that nearly half of high net worth individuals will be minted in the region.
In 2024, the world saw the number of high net worth individuals or HNWIs (those with more than $10 million in assets) rise 4.4 percent to 2,341,378, according to «The Wealth Report 2025» by Knight Frank.
North America was the growth leader with a 5.2 percent increase to 970,401 followed by Asia Pacific, which grew 5 percent to 854,465.
Future Engine
Moving forward, APAC will play an even more prominent role in wealth creation. The report projects that the region will account for 47.5 percent of all HNWIs created between 2025 and 2028.
«This remarkable growth is not only fuelled by the region’s economic resilience, but also the rise of a new generation of entrepreneurs through technological innovation,» commented Christine Li, head of research at Knight Frank Asia-Pacific.
«Apart from Chinese mainland and India, countries like Malaysia and Indonesia are also emerging as key contributors, driven by their young, digitally connected populations and increasing integration into global markets.»
