World’s Ultra-Rich Expected to Grow by 43% Over Next Decade

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The percentage of the world’s ultra-rich is expected to explode within the next ten years, studies suggest, as Asia reports an intensifying increase of wealth across the region. The annual Knight Frank Wealth Report has predicted the number of people worth at least US$30 million will grow by approximately 43 percent in the next decade.

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The predictions indicate Asia's ultra-rich population to double by 2026, with China and India expecting respective increases of 140 percent and 150 percent. Vietnam is expected to lead with the biggest increase at a staggering 170 percent.

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The report, part of a study by New World Wealth, also indicates that while China’s economy will slow over the period, the trend will be significantly overruled by tech, media, entertainment and health care, which will well flourish.

The ultra-rich were also found to be investing an average of 24 percent of their wealth on property, in addition to their first two homes, instead of merely keeping their wealth in the bank.

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