The asset value of high-net-worth individuals fell in the US but increased in the Middle East
New research from Astons, specialists in international citizenship through investment, has revealed that the combined wealth of the world’s high-net-worth individuals (HNWIs) has fallen by 3.6% in the last 12 months, with North America seeing the greatest drop.
A HNWI is classed as anyone with liquid assets of at least US$1 million. If this market continues to diminish, luxury travel specialists could be impacted.
To understand how the wealth of these people has changed in the midst of recent economic and financial turmoil, Astons analysed the wealth of HNWIs from Africa, Asia, Europe, the Middle East, North America and Latin America between 2015 and 2022.
Research shows that the combined wealth of the world’s HNWIs totalled US$82,919 billion in 2022. This marks a 3.6% decline since 2021 when the figure peaked at US$85,978 billion.
The super-wealthy of North America have seen their combined wealth of US$25,632 billion in 2022 fall by 7% from 2021’s total of US$27,675 billion.
European HNWIs have an estimated combined wealth of US$18,171, marking an annual decline of 3%, while HNWIs in Asia have lost 3% of their combined wealth.
Bucking the trend, HNWI wealth has increased in the Middle East (2%), Africa (2%) and Latin America (2%), despite economic challenges.
However, North American HNWIs still account for the largest proportion of global wealth at 30.9%, followed by Asia (29.7%), Europe (21.9%), Latin America (11.1%), the Middle East (4.1%) and Africa (2.2%).
For more information, visit www.astons.com