While the numbers of super-rich people in the major emerging economies of the world such as China and Brazil are declining, that in Southeast Asian has increased, particularly Vietnam and Thailand, according to a report by consulting firm Wealth-X (Singapore) and UBS Bank (Switzerland).

 

 

 

The first dollar billionnaire of Vietnam, Pham Nhat Vuong.

 

 

Among the Southeast Asian countries included in the report, Singapore, Indonesia, Malaysia, Thailand, Philippines and Vietnam have the numbers of super-rich people increased last year.

According to Wealth-X and UBS, the super rich people are those who own fortune valued at $30 million or more .

Thailand is the country with the highest increase of super-rich people, more than 15 percent, from 635 in 2012 to 720 in 2013.

The value of the property owned by these USD millionaires of Thailand also rose. Currently the total assets that the super rich Thai holding is up to $110 billion, up from $95 billion compared with a year ago.

Vietnam ranked second, with an increase in the number of super-rich people of 14.7 percent. The number of Vietnamese super-rich people is 195, with a total property value of $20 billion. A year earlier Vietnam has 170 super-rich individuals with total assets of $19 billion.

Following Vietnam is Indonesia with a growth rate of 10.2 percent. Indonesia currently has 865 super rich individuals, holding assets worth up to $130 billion. In 2012 this country had 785 super-rich people, with total assets of $120 billion.

Experts of Wealth-X and UBS said that Southeast Asian countries continue to have more super-rich people thanks to the soaring domestic consumption and an increase in the number of middle class. This class is keeping the rich in the countries such as Indonesia and the Philippines better even when domestic financial markets weakened.

Wall Street Journal said that markets like Vietnam and Myanmar continue to be the most promising places for private banking services, with the steady increase of the middle-class consumers and the wealthy group.

According to the report, the number of super-rich people in Europe and North America is also rising again, with faster growth than in Asia. However, the report predicts that Asia will overtake Europe in the number of super-rich individuals by 2021 and over North America in 2032

The 13 countries and territories with the highest number of super-rich people in Asia:

 

 

No.	Country	2013		2012		Percentage increase / decrease (%)
		The number of dollar millionaires	Total assets (billions of dollars)	The number of dollar millionaires	Total assets (billions of dollars)
1	Japan	14,270	2,335	12,830	2,075	11.2
2	China	10,675	1,515	11,245	1,580	- 5.1
3	India	7,850	935	7,730	925	1.6
4	Hong Kong	3,180	530	3,135	470	1.4
5	Korea	1,390	265	1,385	265	0.4
6	Singapore	1,355	160	1,305	155	3.8
7	Taiwan	1,245	210	1,185	200	5.1
8	Indonesia	865	130	785	120	10.2
9	Malaysia	840	105	780	100	7.7
10	Thailand	720	110	625	95	15.2
11	Philippines	660	95	580	85	13.8
12	Pakistan	415	50	310	40	33.9
13th	Vietnam	195	20th	170	19th	14.7

S. Tung

Vietnamnet Bridge

Other news

• Vietnam is America's second favorite ASEAN market
• Businesses a bit puzzled about 6-month maternity leave policy