Published on : Apr 15, 2016
ALBANY, New York, April 15, 2016: High net worth individuals in Hong Kong held about 38.2% of their wealth in foreign countries as of 2015. This amounted to HNWI wealth of US$435.8 bn being held outside of Hong Kong. This is the key finding of a report, titled ‘Challenges and Opportunities for the Wealth Sector in Hong Kong 2016,’ which is available on the website of ResearchMoz.us. The report is a valuable resource for companies with a stake in the financial planning, wealth management, and private banking sector for its thorough analysis of HNWIs in Hong Kong and their investment preferences. For the purpose of this study, dossiers of thousands of HNWIs were studied in detail to glean the most relevant information.
The report states that by 2020, the foreign asset holdings of HNWIs in Hong Kong are expected to show rise of over US$50 bn, touching a projected US$486.2 bn by 2020. This would, however, represent 34.2% of Hong Kong’s total HNWI assets in 2020.
The report’s findings indicate that Asia Pacific was the most preferred investment destination for Hong-Kong-based HNWIs. About 55% of all HNWI foreign assets were in the Asia Pacific region in 2015. Next on the list of preferred investment destinations was Latin America in the same year, with 17.6% of wealth being allocated in the region. Following Latin America were North America (15.4%), Europe (5.1%), Africa (4.2%), and the Middle East (2.7%) in that order.
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A comparison with a similar analysis conducted in 2011 shows that in that year, about 58.8% of HNWI wealth allocation was in Asia Pacific. This number has since decreased to reach 55% in 2015. Moreover, the investments made by HNWIs in Asia Pacific will further slide and the region will represent just over half – or 51.5% - of all foreign assets held by HNWIs from Hong Kong in 2020. This will likely be a result of greater investment opportunities in regions such as Latin America, the Middle East, and emerging European countries.
By focusing on the period ranging from 2011 through 2015, the report is able to provide insight into the investment behavior of HNWIs in Hong Kong through the economic crisis. This will give banking and investment firms clues about opportunities that lie in this space.
The data contained in the report has been curated by a team of expert analysts and has been compiled in a manner that will help obtain a granular view of the wealth sector in Hong Kong. Detailed qualitative and quantitative forecasts for the wealth sector in Hong Kong have been provided until 2020. Moreover, the report also tells readers about which cities and states have the highest number of ultra-high net worth individuals (UHNWIs) in Hong Kong.
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