{"id":24,"date":"2022-03-22T11:25:50","date_gmt":"2022-03-22T09:25:50","guid":{"rendered":"https:\/\/mypr.co.za\/international\/?p=24"},"modified":"2022-03-28T11:01:36","modified_gmt":"2022-03-28T09:01:36","slug":"us-tops-total-private-wealth-held-worldwide-while-india-leads-surge-in-investment-migration","status":"publish","type":"post","link":"https:\/\/mypr.co.za\/international\/us-tops-total-private-wealth-held-worldwide-while-india-leads-surge-in-investment-migration\/","title":{"rendered":"US Tops Total Private Wealth Held Worldwide while India Leads Surge in Investment Migration"},"content":{"rendered":"

For immediate release: London,\u00a0Tuesday 22\u00a0March 2022<\/strong><\/p>\n

The inaugural Henley Global Citizens Report released today by <\/span>Henley & Partners<\/span> \u2014 the global leader in <\/span>residence<\/span> and <\/span>citizenship<\/span> by investment \u2014 features exclusive data from <\/span>New World Wealth<\/span> and reveals that the <\/span>top three countries in terms of privately-held wealth are now the US, China, and Japan. The nationalities showing the greatest appetite for <\/span>investment migration<\/span> \u2014 <\/span>whereby wealthy investors acquire alternative residence or additional citizenship in exchange for making a substantial contribution to the host country <\/span>\u2014 are India, the US, and the UK. The past two years have seen two big Cs driving wealth and investment migration: Covid and climate change. In 2022, a third C has abruptly emerged: conflict in Europe.<\/span><\/p>\n

US still dominates the W10<\/span><\/b><\/p>\n

The US is the largest wealth market in the world by some margin, accounting for 32% of total global wealth and 36% of the world\u2019s millionaires (high-net-worth-individuals). The total private wealth held in the country currently amounts to USD 68.8 trillion. The US also experienced the greatest high-net-worth population growth of <\/span>the world\u2019s 10 wealthiest countries <\/span>by \u2018total wealth\u2019 (the W10) <\/span>last year, at 10%. China, while 2nd <\/sup>in the W10, has only a third of the US\u2019s private wealth at USD 23.3 trillion, and its high-net-worth population grew by a comparatively low 4%.<\/span><\/p>\n

However, dramatic shifts are on the horizon with the US\u2019s 10-year high-net-worth growth forecast at 20% compared to China\u2019s 50%. Hot on China\u2019s heels is Japan in 3rd<\/sup> place with a total private wealth of USD 20.1 trillion. While Japan\u2019s high-net-worth population grew by just 3% last year, its 10-year forecast growth is a healthy 30%. India, Germany, UK, Australia, Canada, France, and finally Italy complete the W10.<\/span><\/p>\n

Dominic Volek<\/span>, Group Head of Private Clients at Henley & Partners says \u201c<\/span>It\u2019s no coincidence that each of the W10 countries has legislation in place granting residence rights to foreign investors \u2014 and five host formal investment migration programs. These <\/span>countries are important investment migration markets in terms of both supply, thanks to their attractive and successful programs, and demand, due to their significant and growing populations of affluent investors.\u201d<\/span><\/p>\n

Indian investors lead investment migration drive<\/span><\/b><\/p>\n

The <\/span>Henley Global Citizens Report also reveals that Indian nationals topped the charts for enquiries received by the firm in 2021 by a significant margin, with growth of 54% compared to 2020 \u2014 a year which itself saw a 63% rise in interest shown by Indian investors. US citizens were next in line, with Henley & Partners receiving 26% more enquiries in 2021 after astonishing growth of 208% in 2020. Enquiries by Brits and South Africans shot up by 110% and 38%, respectively, in 2021.<\/span><\/p>\n

Volek says \u201cThe rest of the nationalities in our Top 10 for enquiries in 2021 all come from the global south apart from Canada, in 9th<\/sup> spot, which saw remarkable growth of 86%. In 2022, we are seeing very similar trends, with early signs of exceeding last year\u2019s stellar overall growth. The combination of W10 countries and developing economies that make up our Top 10 reflects the universal appeal of investment migration for affluent families. In addition to the traditional benefits of enhanced global mobility, residence and citizenship by investment programs offer a proven risk mitigation and growth diversification strategy in terms of wealth and legacy planning with the added lifestyle advantage of domicile optionality.\u201d<\/span><\/p>\n

Geopolitics drives demand throughout US, UK, and Europe<\/span><\/b><\/p>\n

The northern hemisphere has become increasingly unpredictable over the past two years, contributing towards the high demand for residence and citizenship alternatives. <\/span>Mehdi Kadiri<\/span>, Head of North America at Henley & Partners says \u201cThe Americas are booming <\/span>\u00be between 2019 and 2021, Henley & Partners saw a spike of 320% in new enquiries, mainly from US nationals. Demand has predominantly been driven by geopolitical upheaval in the US along with shifting political dynamics in several Latin American countries, as well as the global coronavirus pandemic (and its initial local mismanagement) and the associated travel restrictions and mobility risk.\u201d<\/span><\/p>\n

Stuart Wakeling<\/span>, <\/span><\/strong>the Head of the firm\u2019s London office points to the Brexit effect as a growth driver, saying \u201cUK nationals still top the charts when it comes to the number of enquiries in Europe, with Henley & Partners seeing a 110% increase on 2020\u2019s figures. The vast majority relate to what options Brits now have in terms of <\/span>alternative residence<\/span> or additional citizenship in the wake of the UK\u2019s exit from the EU. The biggest growth in Europe, however, comes from Turkey, with a 148% increase in interest, which is why we opened a new office in Istanbul last year.\u201d<\/span><\/p>\n

Growth in Middle East and Africa driven by need for optionality and access rights<\/span><\/b><\/p>\n

The Middle East and Africa have seen strong surges in investment migration solutions since the outbreak of the pandemic. Philippe Amarante<\/span>, Head of the firm\u2019s Dubai office, says \u201c<\/span>This applies both to inbound programs such as UAE\u2019s golden visa options and outbound in the form of investors securing second or third homes via investment migration-linked real estate. Particular countries of interest in this regard are Greece, Portugal, and Spain. With the outlook for 2022 and related risks and uncertainty on a geopolitical level, the need for additional residence and citizenship options, and the recognition that they are indispensable assets to maintain optionality and access rights, is now widely accepted.\u201d<\/p>\n

Amanda Smith, Head of Henley & Partners South Africa, says \u201cWe saw <\/span>a modest overall increase of 18% in enquiries from Africans seeking alternative <\/span>residence<\/span> and\/or <\/span>citizenship<\/span> over the past 12 months. <\/span>But by early February 2022, we had already received over 11% of total 2021 enquiries, a trend we predict will continue this year as <\/span>wealthy investors scramble to diversify their domiciles at the same time as their investment portfolios in a bid to secure greater global access and optionality as a hedge against unrelenting market and political volatility.<\/span> On the supply side, the <\/span>Mauritius Residence by Investment Program<\/span> is gaining traction as an excellent choice for both <\/span>business owners<\/span> and <\/span>real estate<\/span> investors, and there are reports of other African countries, such as Kenya, planning to launch investment migration programs.\u201d<\/span><\/p>\n

Demand on the rise in Asia and Oceania as pandemic recedes<\/span><\/b><\/p>\n

Nirbhay Handa<\/span>, <\/span>Group Head of Business Development at Henley & Partners and Head of the firm\u2019s Global South Asia team says \u201cInvestment migration continues to surge in South Asia, with <\/span>the concept rapidly gaining <\/span>greater<\/span> public acceptance. A growing number of ultra\u2010high<\/span>–<\/span> and high\u2010net\u2010worth investors focused on futureproofing themselves and their families are increasingly seeking out alternative residence and citizenship options. Henley & Partners <\/span>saw<\/span> a <\/span>52<\/span>% increase in client enquiries in 2021 compared to 2020 across South Asia<\/span>, and 2022 looks to be another year of significant growth<\/span>.\u201d<\/span><\/p>\n

In East Asia, on the other hand, C<\/span>ovid has had a negative impact on enquiry numbers<\/span>. <\/span>Denise Ng, Director of Henley & Partners Hong Kong and Head of North Asia, says \u201cMany Chinese <\/span>nationals felt that China was a safer base as they <\/span>believed <\/span>it had tight <\/span>control over <\/span>the virus. Others<\/span> adopted a wait<\/span>–<\/span>and<\/span>–<\/span>see <\/span>approach <\/span>and put their <\/span>investment migration<\/span> plans on hold. <\/span>Yet the<\/span> second half of 2021<\/span> saw the market <\/span>begin to revive and as<\/span> investors<\/span> real<\/span>iz<\/span>ed the importance of having back<\/span>–<\/span>up options to overcome global immobility<\/span> and protect themselves from volatility by<\/span> spreading risk and <\/span>providing<\/span> more secure options for<\/span> their families<\/span> \u2014<\/span> especially the next generations. <\/span>As we enter the second quarter of<\/span> 2022 <\/span>there are<\/span> positive <\/span>sign<\/span>s that <\/span>the <\/span>East Asia <\/span>market<\/span> is really picking up<\/span>. <\/span>In <\/span>January alone<\/span>, we <\/span>received 10% of <\/span>total 2021 <\/span>enquiries<\/span> by East Asian nationals, <\/span>and <\/span>we <\/span>believe <\/span>this trend will continue<\/span>.\u201d<\/span><\/p>\n

Southeast Asia and Oceania, <\/span>which also faced some of the strictest <\/span>C<\/span>ovid regulations, experienced a different trajectory. <\/span>Scott Moore<\/span>,<\/span><\/strong> Head of the Indonesia and Philippines offices at Henley & Partners says that lockdowns made many question their current domiciles. \u201cFrom the mass exodus of expatriates to the severely restricted mobility of locals, Henley & Partners saw an extraordinary increase in enquiries <\/span>as a result<\/span>. As the pandemic worsened, many wealthy families saw the <\/span>benefit<\/span> of health security as a <\/span>motivation<\/span> to approach our firm. Having access to countries with more advanced healthcare and facilities<\/span>,<\/span> even when travel was restricted<\/span>,<\/span> was<\/span> possible through<\/span> residence<\/span> and <\/span>citizenship<\/span> by <\/span>i<\/span>nvestment. <\/span>Now<\/span>, as a new class of millionaires emerges with the <\/span>rise<\/span> of <\/span>c<\/span>rypto<\/span>c<\/span>urrency, we find many <\/span>investors<\/span> seeking out<\/span> the most tax<\/span>–<\/span>friendly jurisdictions to optimise their newfound gains. As enquiries build, we\u2019ve <\/span>extended<\/span> our teams in <\/span>both <\/span>Singapore and Philippines to <\/span>meet the increasing<\/span> demand.\u201d<\/span><\/p>\n

Boosting national prosperity via sovereign equity<\/span><\/b><\/p>\n

Dr. Juerg Steffen<\/span>, CEO of <\/span>Henley & Partners<\/span>, says the pandemic has also seen a significant spike in the supply side of investment migration. \u201cOver the last two years, many countries have created new programs or improved existing options to attract high-net-worth individuals, investors, or talented individuals. Welcoming these new residents and citizens brings considerable gains. Specifically, investment migration programs allow them to increase their <\/span>sovereign equity,<\/span> a concept pioneered by Henley & Partners. The premise of this approach, via <\/span>residence<\/span> and <\/span>citizenship<\/span> by investment programs, is to improve a country\u2019s public finances and support its economic growth and employment creation without increasing its debt. In the current context of consecutive crises, which have slowed the world\u2019s economy and affected many nations\u2019 fiscal balances, it is unsurprising to see interest in investment migration surging. It works for sovereign states by diversifying their economies and creating new revenue streams, and it works for investors by diversifying their options, spreading their risks and creating new possibilities. It\u2019s a classic win-win for both sovereign states and investors alike.\u201d<\/span><\/p>\n

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US Tops Total Private Wealth Held Worldwide while India Leads Surge in Investment Migration Submission Details<\/strong><\/p>\n

Author<\/strong>: Sarah Group Nicklin from Henley & Partners<\/a>
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      For immediate release: London,\u00a0Tuesday 22\u00a0March 2022 The inaugural Henley Global Citizens Report released today by Henley & Partners \u2014 the global leader in residence and citizenship by investment \u2014 features exclusive data from New World Wealth and reveals that the top three countries in terms of privately-held wealth are now the US, China, and Japan. …<\/p>\n","protected":false},"author":1,"featured_media":15,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[9],"tags":[20],"class_list":["post-24","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general-business","tag-united-kingdom","entry"],"jetpack_publicize_connections":[],"jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/mypr.co.za\/international\/wp-content\/uploads\/2022\/03\/cropped-MyPR_Logo_Square.jpg","_links":{"self":[{"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/posts\/24","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/comments?post=24"}],"version-history":[{"count":0,"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/posts\/24\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/media\/15"}],"wp:attachment":[{"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/media?parent=24"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/categories?post=24"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mypr.co.za\/international\/wp-json\/wp\/v2\/tags?post=24"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}