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Asia-Pacific wealth growth ahead of global average in 2013: Report

Tuesday, October 21, 2014 - 17:49

WEALTH growth in the Asia-Pacific region powered ahead of the global average in 2013, thanks to strong growth in Japan and China.

The Asia Pacific Wealth Report by Capgemini and RBS Wealth Management found that the number of individuals with investable assets of at least US$1 million grew by 17 per cent to 4.3 million while their wealth expanded by 18 per cent to US$14.2 trillion. The growth rates for the rest of the world were 13 and 12 per cent respectively.

Clients in Asia Pacific are the most demanding in terms of their desire for digital interaction, with 82 per cent expecting most or all of their wealth management relationships to be run digitally in five years. In contrast, the proportion in the rest of the world demanding this is 61 per cent.

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