403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
$83 Trillion And Counting: UBS Maps Future Wealth Transfers
(MENAFN- The Rio Times) UBS anticipates $83 trillion in wealth transfers within the next 30 years, involving assets from individuals over 75.
The report reveals a large transfer expected in the next decade, aligning with this group's life expectancy. Asia-Pacific has the most older people, significantly more than in the Americas.
As these transfers occur, they could elevate many from poverty to wealth. Last year, the world saw wealth grow by 4.2%.
By 2028, emerging markets are predicted to house a third of all millionaires, a notable increase across these nations.
A substantial portion of these assets, especially in the Asia-Pacific region, which has the world's largest older people population, is expected to be transferred within the next ten years.
The implications of such a massive transfer of wealth include potential shifts in market dynamics and investment patterns, as younger generations might invest differently.
Conversely, the UK might see a sharp decline in its millionaire count, expected to drop by 17% to 2.5 million.
Recent changes in tax laws for non-domiciled residents might force the wealthy to explore other residences.
Taiwan's Millionaire Boom
Taiwan leads in the projected growth of its millionaire population, potentially rising by 47% to 1.16 million. The thriving microchip sector and the influx of affluent immigrants drive this increase.
Turkey, Kazakhstan, and Indonesia are also on track for robust growth in their wealthy demographics, each expecting a surge of over 30%.
The US will maintain its lead with the most millionaires, set to increase by 16% to 25.4 million. Switzerland remains the richest per capita, with nearly $710,000 per person.
These shifts are significant as they highlight the changing dynamics of global wealth distribution. The transfer of massive wealth in Asia-Pacific signifies its rising influence and economic power.
At the same time, the decline in the UK's wealthy population might signal shifting economic centers globally.
The report reveals a large transfer expected in the next decade, aligning with this group's life expectancy. Asia-Pacific has the most older people, significantly more than in the Americas.
As these transfers occur, they could elevate many from poverty to wealth. Last year, the world saw wealth grow by 4.2%.
By 2028, emerging markets are predicted to house a third of all millionaires, a notable increase across these nations.
A substantial portion of these assets, especially in the Asia-Pacific region, which has the world's largest older people population, is expected to be transferred within the next ten years.
The implications of such a massive transfer of wealth include potential shifts in market dynamics and investment patterns, as younger generations might invest differently.
Conversely, the UK might see a sharp decline in its millionaire count, expected to drop by 17% to 2.5 million.
Recent changes in tax laws for non-domiciled residents might force the wealthy to explore other residences.
Taiwan's Millionaire Boom
Taiwan leads in the projected growth of its millionaire population, potentially rising by 47% to 1.16 million. The thriving microchip sector and the influx of affluent immigrants drive this increase.
Turkey, Kazakhstan, and Indonesia are also on track for robust growth in their wealthy demographics, each expecting a surge of over 30%.
The US will maintain its lead with the most millionaires, set to increase by 16% to 25.4 million. Switzerland remains the richest per capita, with nearly $710,000 per person.
These shifts are significant as they highlight the changing dynamics of global wealth distribution. The transfer of massive wealth in Asia-Pacific signifies its rising influence and economic power.
At the same time, the decline in the UK's wealthy population might signal shifting economic centers globally.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment