According to the latest edition of the Wealth Report released by Knight Frank, the number of super-rich people in Vietnam has nearly doubled between 2017 and 2022. Specifically, from 583 individuals in Vietnam with net assets of over 30 million USD in 2017, by the end of 2022 this number had reached 1,059 people, an increase of 82% after only 5 years. Knight Frank predicts that by 2027, this number will nearly reach 1,300 people, equivalent to an increase of 22% compared to the present and equivalent to an increase of 122% within 10 years.
Number of super-rich people in Vietnam doubled in 5 years
Not only that, the number of high-net-worth individuals (HNWI) - individuals with assets of 1 million USD or more - in Vietnam has also increased by 70% in the past 5 years and is expected to skyrocket by 173% in just 10 years from 2017 to 2027.
The change in the rich and super-rich population in Vietnam is also part of the prosperity trend across Asia. Accordingly, Singapore, Malaysia and Indonesia lead the markets with the fastest growing super-rich population, about 7 - 9%. In the Asia - Pacific region, the super-rich population has increased dramatically by nearly 51% in the 5 years to 2022. Although it is predicted that this growth will slow to 40% in the next 5 years, this is still the region leading the world in terms of prosperous growth.
Rich population worldwide over the years
Ms. Christine Li, Director of Research Services, Asia Pacific , Knight Frank shared: "According to data from the latest Knight Frank Wealth Report, after a record increase of 7.5% in 2021, the Asia-Pacific ultra-rich population will decrease by 5.7% in 2022. However, 3 out of 10 markets with the strongest growth in ultra-rich populations globally are Southeast Asian countries including Singapore, Indonesia and Malaysia, with increases of 7 - 9%. In the long term, this region still has a lot of potential and prospects for prosperity, leading in ultra-rich population and economic development opportunities".
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