The new WealthInsight financial services research report, published this month, provides projections of the volume and wealth of Australia HNWIs. This includes demographic trends (2008-2012) and findings of the proprietary WealthInsight HNWI database which comprises dossiers on over 60,000 HNWIs from around the world.
The scope of the research involves the independent market sizing of Australia HNWIs across five wealth bands, and HNWI volume and wealth trends from 2007 to 2012 as well as HNWI volume and wealth forecasts to 2017. Also part of the research are HNWI and UHNWI asset allocations across 13 asset classes. It also includes a number of UHNWIs in each state and all major cities and the fastest growing cities and states for UHNWIs (2007-2012) and insights into the drivers of HNWI wealth.
The research revealed that there were just over 302,000 HNWIs in Australia in 2012. These HNWIs collectively held US$899 billion in wealth, which equated to 15.5% of the total individual wealth held in the country. Australian HNWIs over-performed compared to the global average during the review period and their numbers increased by 19.7%, while worldwide HNWI volumes declined by 0.3%.
In 2012, Australian HNWI numbers rose by 9.9%, following a drop of 2.7% in 2011. Growth in HNWI wealth and volumes is expected over the forecast period. The total number of Australian HNWIs is forecast to grow by 33%, to reach over 401,887 in 2017. HNWI wealth is projected to grow by 58% to reach US$1,418 billion by 2017.
Source sbwire.com/WealthInsight
