$USD
en

iWorld / News / USA

The number of High-Net-Worth Individuals in the world is growing despite the pandemic

July 15, 2021

4 minutes read

Investors discuss report on growth in the number of wealthy people in the world, despite the pandemic

According to the World Wealth Report 2021, the number of high-net-worth individuals (HNWI) worldwide continues to increase, despite the COVID-19 epidemic. With the investment immigration industry, relying heavily on this category, the growth of HNWI could be a reason to push it forward.

A report, provided by the Capgemini Research Institute, indicates that the number of wealthy citizens of the world as a whole increased by 6% during the pandemic. At the same time, there was significant growth in the stock market and government bailout packages, which combined to increase the wealth of the HNWI community by 7.6% in 2020. According to the report, the percentage of ultra-high net worth individuals, the so-called ultra-HNWIs, rose to 9.6. 

Who is leading the global HNWI market

In terms of HNWI growth, North America ranks first: here the percentage change in the number of wealthy people over 2019-2020 is 10.7%. In terms of wealth, the figure reached 11.9 percent last year. The income of the rich in the U.S. increased by 12.3 %, which is explained by the economic stimulus package adopted by the authorities to raise the country's GDP of 2 trillion dollars. A sharp jump in the value of technology companies' stocks also contributed to the situation.

The second place in the list went to the Asia-Pacific region. Thus, the recorded increase in wealth in China - 13.5%. It is followed by Hong Kong (12.1%), followed by South Korea (9.2%). The Indian HNWI community increased by 5.9%, and in Japan and Singapore the growth of capital slowed down.

The following positions were distributed among the countries of Europe, the Middle East and Africa. The category of individuals with great wealth among Europeans shows low growth. For example, in Germany the HNWI index is 4.7%, and in the UK after the pandemic the number of wealthy people has decreased by 3%.

A significant increase in the number of wealthy citizens was recorded in Iran - 21.6%, the total wealth increased by 24.3% in 2020. To compare: in the Persian Gulf countries the HNWI community grew by only 3.4%, and the increase in wealth was 5.3%.

Negative figures (4%) on the number of the richest people in the world are observed only in Latin America. The increase in financial wealth in this region is only 0.5% (compared to 2019 and 2020).

Impact of the pandemic on the HNWI community

Latin America was most affected by COVID-19. Because of the pandemic, the number of wealthy people decreased by 4% and their capital increased by only 0.5%. About 63% of the world's affluent individuals are still based in four countries: the United States, Japan, Germany and China. Special attention should be paid to Iran, which occupies the 14th place in the ranking of countries with growth of HNWI, as well as Brazil, whose position has shifted to 22nd place out of 25 possible. 

rectangle

iWorld is giving away VIP-tickets to
Expo 2020 Dubai - take the chance to join!