Wealth shifts to Asia

The number of super-wealthy individuals in Asia is set to grow by 43% over the next decade, which will include growth rates of 99% in India and 80% in China, a new report has forecast.

That means Asia will overtake North America for the total number of Ultra High Net Worth Individuals (UHNWIs) in both regions by 2023, the Wealth Report 2014 has predicted.

The joint study, conducted by global property consultancy Knight Frank and Bank of China International, also expected the number of billionaires in Asia to grow by 66% to overtake Europe as the region with the largest population of billionaires within the next ten years.

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