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The investable wealth of high net worth individuals worldwide is expected to grow at an average of 6.9 per cent between 2013 and 2016 to touch $64.3 trillion, according to the new Capgemini-RBC Wealth Management ‘World Wealth Report 2014’. The largest growth is expected to be seen in the Asia-Pacific region, rising by 9.8 per cent to $18.8 trillion.
This would mark the first time in history that the North American region’s wealth will be surpassed, since it is only expected to grow by 6.4 per cent — lower than the global average — to $17.9 trillion. The pace of wealth creation among HNIs in Europe is also expected to accelerate at a faster pace, growing by 7.1 per cent annually to touch $15.2 billion, making it the third wealthiest region on the globe.
Latin America, on the other hand, is likely to see the poorest expansion in HNI wealth during the period, gaining just 2.3 per cent to $8.2 trillion. HNI wealth in West Asia will grow by an average of 6.6 per cent over the three-year period, according to the report, while African HNIs will see their wealth rise by 6 per cent to a cumulative $1.6 trillion.
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