Vietnam's super-rich are growing fastest in the world

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 and India, showing that these countries are experiencing rapid urbanization, growth in manufacturing activities and investment in infrastructure.

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, the group’s membership grew by nearly 13% to more than 255,800 people, up from just 3.5% in 2016.

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 growth 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 ultra-rich people in the world, with nearly 79,600 people, followed by Japan, China and Germany.

Asia has three representatives in the top 10, namely 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.

By city, Hong Kong has also surpassed New York to become the place with the most ultra-rich people. With a growth rate of 31% last year, this group in Hong Kong has nearly 10,000 members. Meanwhile, the figure in New York is nearly 9,000. Following are Tokyo (Japan), Los Angeles (USA) and Paris (France).