HNWIs Reach Record High


    Improving economic and equity market performance helped add 1.76 million people to the global High Net Worth Individual (HNWI) population in 2013, while the investable wealth of HNWIs grew by nearly 14 per cent to reach a record high of US$52.62 trillion, says the ‘World Wealth Report 2014 (WWR)’ by Capgemini and RBC Wealth Management. The report says that the 15 per cent increase in HNWI population in 2013 is the second-largest since 2000, surpassed only by immediate post-crisis catch-up growth of 17 per cent in 2009. North America and Asia-Pacific remained in a close race for the world’s largest HNWI market by population in 2013, with growth in Asia-Pacific narrowing North America’s lead to less than 10,000 individuals. North America’s HNWI population expanded by 16 per cent to 4.33 million, while Asia-Pacific’s grew by 17 per cent to reach 4.32 million. North America remains the wealthiest region, increasing its HNWI wealth by 17 per cent to reach US$14.88 trillion. In Canada, the total number increased by 7.2 per cent to reach 320,000 and their wealth by 9.1 per cent to reach US$979 billion.