BCG released Global Wealth 2015 report; India home to fourth largest ultra-high-net worth households

The annual report listed out the status of generation and distribution of private wealth in 2014. It also estimated the future prospects of global private financial wealth.

Created On: Jun 17, 2015 12:00 ISTModified On: Jun 17, 2015 18:11 IST

The Boston Consulting Group (BCG) on 3 June 2015 released the Global Wealth 2015: Winning the Growth Game report.

The annual report listed out the status of generation and distribution of private wealth in 2014. It also estimated the future prospects of global private financial wealth.

Highlights of Global Wealth 2015 report

Global private financial wealth grew by nearly 12 percent in 2014 to reach a total of 164 trillion US dollars. The rise was in line with 2013, when global wealth also grew by just over 12 percent.
• Over the next five years, total private wealth globally is projected to post a compound annual growth rate (CAGR) of 6 percent to reach an estimated 222 trillion US dollars in 2019.
North America with 51 trillion US dollars in private wealth remained the world’s wealthiest region in 2014 with the USA representing 28 percent of the global total. It has also remained the wealthiest individual country ahead of China and Japan.

Asia-Pacific (excluding Japan) remained the fastest-growing region in 2014 with private wealth expanding by 29 percent. Continued economic expansion in India along with China contributed to this performance.
• The region overtook Europe (Eastern and Western Europe combined) to become the world’s second wealthiest region in the world and projected to hold 34 percent of global wealth in 2019. At such a pace, the region is expected to overtake North America as the world’s richest region in 2016.
Western Europe’s 7 percent growth rate brought private wealth to nearly 40 trillion US dollars in 2014 and is projected to reach an estimated 49 trillion US dollars in 2019. In the region Sweden recorded highest growth rate (13 percent).
• Private wealth in Eastern Europe grew by 19 percent to 3 trillion US dollars in 2014 driven mainly by Russia’s 25 percent growth to 2 trillion US dollars.
• Japan’s private wealth achieved comparatively low growth of about 2 percent in 2014 to reach 14 trillion US dollars.
• Private wealth in Latin America achieved double-digit growth in 2014, by rising more than 10 percent to nearly 4 trillion US dollars. Strong growth was observed in Mexico (15 percent) and Columbia (10 percent).
• Private wealth in Middle East and Africa (MEA) region increased by more than 9 percent to reach nearly 6 trillion US dollars in 2014 in which Saudi Arabia occupied the major share.
• Private wealth held by ultra-high-net-worth (UHNW) households (those with above 100 million US dollars) grew by 11 percent in 2014 possessing 6 percent of global private wealth.

USA remained the country with the largest number of UHNW households with 5201, followed by China (1037) and the UK (1019).
• USA had the highest density of millionaire households in 2014 (7 million US dollars) followed by China (4 million US dollars) which showed highest number of new millionaires (1 million US dollars).
• The highest density of millionaires was in Switzerland, where 135 out of every 1000 households were millionaires.

India’s position in the report

Private wealth in India showed solid gain driven mainly by investments in local equities. In 2014, India’s equity market rose by 23 percent.

India had fourth largest UHNW households (928) after USA, China and the UK. India had only 284 UHNW households in 2013.

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