Published on : Apr 01, 2016
ALBANY, New York, April 01, 2016: The report takes into consideration over 60,000 HNWIs from across the globe for the purpose of the study. Israeli high net worth individuals (HNWI) held 24.6% i.e. around US$109.8 bn of their wealth outside their own country in 2015. The growth of Israel’s HNWI population and their respective wealth is predicted to increase in the years to come. The number of HNWIs in Israel is expected to grow at a double-digit rate in the next few years. In the years to come, foreign asset holdings are also expected to increase at a rapid pace. Foreign asset holdings are predicted to reach to US$137.2 bn by 2020, accounting for approximately 23.7% of the total HNWI assets of Israel.
The wealth sector in Israel is studied by comparing it with trends in various regions such as North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa. In 2015, North America held 37.7% of Israeli HNWIs’ investments whereas Asia Pacific accounted for 30.6% of Israeli HNWIs’ wealth allocation. In 2015, Latin America accounted for 13.4% of the overseas wealth of Israeli HNWIs and the Middle East held 1.8%. In the same year, Africa accounted for 1.1% for the assets held by Israeli HNWIs.
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As compared to other regions, Israel’s HNWIs allocations to the Asia Pacific region increased rapidly during the period from 2011 to 2015. Israeli’s HNWIs’ wealth allocations in Asia Pacific rose from 10.7% in 2011 to 30.6% in 2015. In the years to come, HNWI investments in Asia Pacific are expected to reach 44.8% of total foreign HNWI assets by 2020. With the entry of many wealth managers, domestic private banks, and foreign private banks, the wealth sector in Israel is expected to be highly competitive and challenging in the years to come.
Factors such as ILS-US$ exchange rate, growth in real GDP, per capita GDP, and domestic market capitalization are predicted to boost the wealth sector in Israel in the next few years. Also, factors such as an increase in foreign direct investment inflows and outflows, balance of payment, and performance of stock market are predicted to contribute towards the growth of the wealth sector in Israel in the years to come. Considering the changing trends and stable conditions, many foreign private banks are expected to participate in Israel’s wealth sector in the next few years. With increasing foreign asset holdings, the wealth sector in Israel is expected to grow further in the next few years. With this, many new players from across the globe are expected to seek new investment opportunities in the Israel wealth sector.
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