The Straits Times
Published on Sep 25, 2012

Super-rich in Asia to reach 2.67 m by 2015: Bank survey


GENEVA (AFP) - The number of super-rich in Asia is set to reach 2.67 million people by 2015 with a net worth of an estimated US$16.7 trillion (S$2.05 trillion), Swiss private bank Julius Baer said on Tuesday.

The findings, announced in its 2012 Wealth Report focusing on Asia, indicated that the region's High Net Worth Individuals (HNWIs) were largely immune from the economic ills affecting the rest of the world.

This was because of Asia's economy, which continued to grow thanks to "domestic demand supported by robust job growth", the bank said in a statement.

Announcing its the survey, which focuses on wealth creation in 10 of Asia's biggest economies, Julius Baer also said that its HNWI estimate for 2015 represented a compounded annual growth rate of 30 per cent increase from 2010 forecasts.