Majority of Wealth To Be in Asia Pacific By 2018
D-Bo , June 11, 2014, 7:19 a.m.
A Boston based research firm, Boston Consulting Group, has recently published a report that indicated that the Asia-Pacific region is expected overtake Western Europe and North America in terms of private wealth by the end of 2018.
The annual report, Global Wealth 2014, shows the Asia-Pacific region, excluding Japan, will outstrip Western Europe within this year. The report classifies private wealth as cash, deposits and securities but excludes real estate.
The report also predicts that the region will record an average annual growth rate of more than 10 percent by 2018. Last year, the amount of financial wealth in Asia-Pacific reached around US$37 trillion, up some 30 percent compared to the previous year. Globally, the amount is $152 trillion, up nearly 15 percent from the previous year, thanks to favorable conditions in the global securities market.