Hanoi (VNA) - Vietnam ranked second, following Bangladesh, in the top 10 fastestgrowing wealth markets from 2010 to 2019.
The Wealth-X Company revealed theranking in its new report titled “A Decade of Wealth”.
The reporttakes a look back at the growth of the global wealthy population over thepast decade, while also forecasting the trends that will help shape futuregrowth in the coming years.
Both Vietnam and Bangladesh had robust economic growth supported by a youngand expanding workforce and deepening integration in regional manufacturingsupply chains, says the report.
It said thecountry's strong growth in wealthy populations was also partly a reflection ofhaving a low base of comparison (i.e. both countries had a comparatively smallnumber of wealthy individuals back in 2010).
The number of super-rich has also increased faster than most of Asia overthe past decade. Asia is home to six of the 10 fastest growing wealth markets.
The global wealthy population expanded by over 50 percent in the pastdecade, the report said.
While only comprising a fraction of the world’s adult population, wealthyindividuals (those with 1 million USD or more in net worth) controlled almost a third of globalprivate wealth last year — a whopping 104 trillion USD, up from 50trillion USD in 2005and 69 trillion USD in2010.
Over this period, growth rates of the global wealthy population and theircombined net worth were similar for both very high net worth individuals –those with 5-30 million USD in net worth and ultra high net worth – those with 30 million USD or more in net worth.
The report also forecast that the technology sector will make a strongbreakthrough in the coming years, while banking, business and consumer serviceswere sectors with the most super-rich people in the previous decade.
The report said the proportion ofsuper-rich people in the technology sector will increase significantly, becausetechnology businesses can overcome the COVID-19 crisis quite easily and canscale up faster than traditional industries.
Founded in 2010, with offices across North America, Europe and Asia,Wealth-X provides unique data, analysis, and insight to a growing roster ofover 500 clients./.
The Wealth-X Company revealed theranking in its new report titled “A Decade of Wealth”.
The reporttakes a look back at the growth of the global wealthy population over thepast decade, while also forecasting the trends that will help shape futuregrowth in the coming years.
Both Vietnam and Bangladesh had robust economic growth supported by a youngand expanding workforce and deepening integration in regional manufacturingsupply chains, says the report.
It said thecountry's strong growth in wealthy populations was also partly a reflection ofhaving a low base of comparison (i.e. both countries had a comparatively smallnumber of wealthy individuals back in 2010).
The number of super-rich has also increased faster than most of Asia overthe past decade. Asia is home to six of the 10 fastest growing wealth markets.
The global wealthy population expanded by over 50 percent in the pastdecade, the report said.
While only comprising a fraction of the world’s adult population, wealthyindividuals (those with 1 million USD or more in net worth) controlled almost a third of globalprivate wealth last year — a whopping 104 trillion USD, up from 50trillion USD in 2005and 69 trillion USD in2010.
Over this period, growth rates of the global wealthy population and theircombined net worth were similar for both very high net worth individuals –those with 5-30 million USD in net worth and ultra high net worth – those with 30 million USD or more in net worth.
The report also forecast that the technology sector will make a strongbreakthrough in the coming years, while banking, business and consumer serviceswere sectors with the most super-rich people in the previous decade.
The report said the proportion ofsuper-rich people in the technology sector will increase significantly, becausetechnology businesses can overcome the COVID-19 crisis quite easily and canscale up faster than traditional industries.
Founded in 2010, with offices across North America, Europe and Asia,Wealth-X provides unique data, analysis, and insight to a growing roster ofover 500 clients./.
VNA
