VIETNAM’S RANKED 3RD AMONG NATIONS WITH FASTEST GROWTH IN ULTRA-RICH POPULATION

With 79,595 ultra-rich residents, the US still lorded the ranking of UHNW countries. Japan and mainland China trailed the US with 17,915 and 16,875 UHNWIs, respectively.

Driven by Hong Kong and mainland China, Asia registered the fastest growth among regions in the number of ultra-wealthy people, rising 27 percent last year.

According to a new report titled World Ultra Wealth Report 2018, which examines the global ultra-wealthy population, Vietnam is ranked third among the top 10 countries with the fastest-growing ultra-rich population, with a compound annual growth rate of 12.7%.

10. United States: 8.1 percent growth in UHNW population since 2012

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9. Pakistan: 8.4 percent growth in UHNW population since 2012 8. Israel: 8.6 percent growth in UHNW population since 2012 7. Ireland: 9.1 percent growth in UHNW population since 2012 6. Hong Kong*: 9.3 percent growth in UHNW population since 2012 5. India: 10.7 percent growth in UHNW population since 2012 4. Kenya: 11.7 percent growth in UHNW population since 2012 3. Vietnam: 12.7 percent growth in UHNW population since 2012 2. China: 13.4 percent growth in UHNW population since 2012 1. Bangladesh: 17.3 percent growth in UHNW population since 2012

The research was conducted by Wealth-X, a multinational market research company. It defines an ultra-rich individual as one who possesses a net worth of more than US$30 million.

The growth of the ultra-rich population also implies a worrying trend, as the wealth gap in Vietnam is widening faster than ever.

“In an hour, the richest Vietnamese can earn from their wealth almost 5,000 times more than what the poorest 10% of Vietnamese spend every day on their basic needs”, adds the report.

Ref : Property Report