2012-09-13 16:18:20 -
BRIC HNWI market to increase by 76%
In 2011, there were approximately 1.9 million high-net worth individuals (HNWI) across the nations of Brazil, Russia, India and China (BRIC). Between them, the BRIC HNWI market was worth a combined value of US$7.5 trillion. This equates to 11.3% of worldwide HNWI volumes and 11.4% of total worldwide HNWI wealth. HNWI is a person with a high net worth. In the private banking business, these individuals typically are defined as having investable finance (financial assets not including primary residence) in excess of US$1 million.BRIC saw an increase in its total number of HNWIs of 30% between 2011 and 2016. This growth is expected to continue through to 2016, with market growth fuelled by strong development in all BRIC nations.Over this
time period the BRIC HNWI market has been forecast to increase by 76%, with India and China expected to lead the way. India is expected to experience a growth in HNWI volumes of 103%, followed by China with 83%, Brazil with 40% and Russia with 36% growth.HNWI wealth will see a slightly larger percentage increase, growing by 83% to reach US$13.7 trillion in 2016.Ultra high net worth individuals (UHNWIs) are individuals or families who have at least US$30 million in investable assets, or with a disposable income of more than US$20 million. The exact dividing lines depend on how a bank wishes to segment its market; for example, the term "very high net worth individuals" can refer to those with assets between $5 million and $50 million, with ultra high net worth individuals only those with above $50 million.At the end of 2011, 45% of BRICS UHNWIs were based in China. Brazil accounted for 24%, followed by India, and Russia.For more information on the BRIC HNWI market, see the latest research: BRIC HNWI Market ReportFollow us on Twitter @CandMResearch
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