Bangladesh has topped the list of countries that saw the quickest growth in the number of ultra-wealthy people between 2012 and 2017, the World Ultra Wealth Report 2018 shows.
According to new research from Wealth-X, the population of ultra-high-net-worth (UHNW) individuals — which it defines as those with a net worth of $30 million or more — rose by 17.3 percent in Bangladesh in between 2016 and 17.
In terms of growth, Bangladesh is ahead of China, Vietnam, Kenya, India, Hong Kong, Ireland, Israel, Pakistan, and the US.
"This was a sharp acceleration from the growth of 3.5 percent in 2016," Wealth-X reports.
The combined net worth of the super-rich also increased, rising by 16.3 percent to $31.5 billion. And the growth wasn't just concentrated in one area, the research firm notes: "A testament to the auspicious economic climate, the ultra-wealthy population, and its total net worth increased in all seven major regions, contrasting with the diverse performances seen a year earlier."
The number of ultra-wealthy women has also increased and it totaled just under 35,000, equivalent to a record-high share of 13.7%.
Of the major regions Wealth-X looked at, Asia saw the biggest gains — its UHNW population increased by 18.5 percent — but North America and Europe are still home to the most ultra-wealthy individuals.
The global UHNW population is forecast to rise to 360,390 people by 2022, an increase of almost 105,00 compared with 2017.
The level of UHNW wealth is projected to increase to $44.3trn, implying an additional $12.8trn of newly created wealth over the next five years.
The sixth edition of the World Ultra Wealth Report analyzes the state of the world’s ultra-wealthy population, or those with $30m or more in net worth, which expanded strongly in 2017, rising by 12.9% to 255,810 individuals.
This was a sharp acceleration from the growth of 3.5% in 2016, reflecting significantly more favorable conditions for wealth creation, despite still volatile geopolitics.
Buoyed by a synchronized upturn in the world economy, rising asset markets, and robust corporate earnings, the combined net worth of the ultra high net worth (UHNW) population increased by 16.3% to $31.5trn, implying healthy gains in average net wealth.
A testament to the auspicious economic climate, the ultra-wealthy population, and its total net worth increased in all seven major regions, contrasting with the diverse performances seen a year earlier.