The UHNW (Ultra High Net Worth) population of Asia saw a drop of 10.9% from the previous year. This marks the largest drop till now for a region, in the whole of the world till now.
A report that had been made by Altrata stated that the UHNW population of Asia fell by 11% in the year 2022. The major reasons for such a drop in drastic numbers are the Covid lockdown in China and the war – crisis in Ukraine. It disrupted the regional supply chains.
The tech key markets of the region of Taiwan and South Korea bore the pressure of the exports that were compromised – that mainly arose from the war.
The net worth of the UHNW Asia combined was $12.13Tn. as compared to that of Europe’s $ 11.73Tn. In spite of this amount of volatility, Altrata does expect an increase in the overall wealthy population of the region of Asia in the coming five years.
It is also predicted that North America is going to maintain its position of being the wealthiest region for a long time as well.
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