The Hanoitimes – The global ultra wealthy population, comprising people each with a net worth above $30 million, expanded by 12.9% year-on-year in 2017 to 255,810 individuals Vietnam has registered annual growth rate of 12.7% in its ultra-high net worth (UHNW) population since 2012, standing firmly among the world’s top 10 fastest-growing UHNW countries, stated data firm Wealth-X. On the list, Vietnam is only behind Bangladesh and China, which posted growth rate of 17.3% and 13.4%, respectively, stated the latest report. According to the report, economies such as Vietnam, Bangladesh and India are expanding at a faster pace and experiencing rapid urbanization, infrastructure investment and manufacturing growth. Overall, the state of the world’s ultra-wealthy population, or those with US$30 million or more in net worth, rose by 12.9% year-on-year in 2017 to 255,810 individuals. This was a sharp acceleration from growth of 3.5% in 2016, reflecting significantly more favorable conditions for wealth creation, despite still volatile geopolitics. Buoyed by a synchronized upturn in the world economy, rising asset markets, and robust corporate earnings, the combined net worth of the UHNW population increased by 16.3% to US$31.5 trillion, implying healthy gains in average net wealth. A testament to the auspicious economic… Read full this story
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