Vietnam's super-rich are growing fastest in the world.
Every year, the number of people with assets of 30 million USD or more in Vietnam increases by nearly 13%.
Research firm Wealth-X has just released a report on the world's super-rich - World Ultra Wealth Report, with assets of 30 million USD or more.
Accordingly, Vietnam is in the top 10 economies with the fastest growth rate of super-rich people in the world in the period 2012 - 2017, with 12.7% per year. This rate is only behind Bangladesh (17.3%) and China (13.4%).
Wealth-X's report assesses trends taking place in countries such as Vietnam, Bangladesh or India, showing that these countries are experiencing rapid urbanization, growth in manufacturing activities and investment in infrastructure.
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Vietnam is among the countries with the highest growth rate of super-rich people in the world. |
Globally, the report said, after a boom in 2017, membership in the group increased by nearly 13% to more than 255,800 people. The growth rate in 2016 was only 3.5%.
This reflects a favorable environment for wealth accumulation in 2017, despite geopolitical turmoil. The total wealth of this group also increased by more than 16% to $31.5 trillion. Compared to last year, the increase in both the number of ultra-rich and their wealth was more even, occurring across all seven major regions.
In 2017, the US remained the economy with the largest number of super-rich people in the world, with nearly 79,600 people, followed by Japan, China and Germany.
Asia has three representatives in the top 10: Japan, China and Hong Kong (China). This is also the region with the fastest growth rate of super-rich people in the world.
On average, Asia’s super-rich are also younger than the rest of the world. Nearly a quarter are under 50.
Ranked by city, Hong Kong has also surpassed New York to become the place with the most super-rich people. With a growth rate of 31% last year, this group in Hong Kong has nearly 10,000 members. Meanwhile, the number in New York is nearly 9,000. Following are Tokyo (Japan), Los Angeles (USA) and Paris (France).