New Delhi, June 14 (FN Bureau) Global high net worth individual (HNWI) population grew 7.8 per cent and their wealth grew 8 per cent in 2021 owing to recovering economies being boosted by the stock market, said Capgemini’s World Wealth Report released on Tuesday.In 2021, the top-four positions in HNWI population by market were retained by the United States, Japan, Germany, and China respectively, comprising 63.6 per cent of the global HNWI population, an increase of 0.7 per cent from 2020.North America continued along its growth trajectory, boasting the highest increase in HNWI population and wealth, 13.2 per cent and 13.8 per cent respectively.Europe moved past Asia Pacific to second place in growth rate, fueled by a recovering economy in Europe and slowing growth in Asia Pacific, said the report noting that 70 per cent of HNWIs globally have invested in digital assets and currencies.”
From an overall growth rate standpoint, APAC’s lackluster 2021 HNWI growth in population (4.2 per cent) and wealth (5.4 per cent) put the region, which had dominated HNWI growth over the last decade, into third place,” Capegemini’s 2022 World Wealth Report said.As per the report, ultra-HNWIs ($30 million and more) led global wealth and population growth, at the rates of 9.6 per cent and 8.1 per cent.”While the Millionaires Next Door ($1-5 million) population (7.7 per cent) and wealth (7.8 per cent) grew the slowest, witnessing an acceleration in population and wealth growth rates. Conversely, the Mid-Tier Millionaire ($5-30m) population and wealth increased to 8.5 per cent and 8.4 per cent,” the report said.The report suggested that the growth gap across wealth bands is shrinking, indicating a more level playing field due to improved information access for investors and democratization of asset classes.