Analysts Estimate Big Growth in Asian Net Worth

Analysts Estimate Big Growth in Asian Net WorthAsia could soon get counted as one of the richest zones worldwide. Analysts have presumed that the number of high net-worth individuals (HNWIs) in the region could touch the 2.8 million-mark in the next four years.

The reports have also highlighted that strong economic growth, higher savings ratio than others and rise in Asian exchange rates have acted as the main causes behind increasing the chances of Asia to become richest soon.

In context to same, a report from brokerage and investment group CLSA Asia-Pacific Markets has also been issued recently titled as, 'Fat Cats in Fast Lanes: Surge in High Net-Worth Individuals'. This report highlighted about 1.2 million wealthy Asians in the year 2010, which according to the estimations could rise to 2.8 million by 2015, i. e. an increase of 140% could be cited in the figures soon.

"The forces for wealth creation are extremely favorable for Asia over the coming years. As Asia gets richer, the surge in wealthy Asian spending power will become a multi-decade theme", says Mr. Amar Gill, the Head of Special Projects Research at CLSA.

He also added in his statement that faster growing economies in the region as compared other regions in the world along with higher savings ratios and appreciation are some of the factors that have driven the confidence of the department to make such estimates about wealth.