Asia is experiencing an unprecedented boom in ultra-high-net-worth individuals (UHNWIs), outpacing all other regions in wealth growth.
By 2028, the number of people with a net worth of $30 million or more is expected to surge by 38.3%, reaching 2,28,849.
India leads this rapid expansion, projected to see a 50.1% rise in its UHNWI population — from 13,263 in 2023 to 19,908 in 2028.
China follows closely with a 47.0% increase, adding over 46,000 new ultra-rich individuals.
Southeast Asia is also thriving, with Malaysia, Indonesia, and Vietnam all witnessing 30%+ growth.
This rise surpasses other regions, including North America (25.7%) and Europe (22.3%). Even the Middle East, known for its wealth, trails behind Asia with a 28.3% increase.
The booming economies, rapid industrialization, and expanding tech sectors are fueling this surge, solidifying Asia’s position as the world’s leading hub for wealth creation.
