|By PR Newswire||
|January 22, 2014 04:00 AM EST||
SINGAPORE, Jan. 22, 2014 /PRNewswire/ -- As the Chinese Year of the Snake makes way for the Year of the Horse on 31 January 2014, Wealth-X, the world's leading ultra high net worth (UHNW) intelligence firm, presents eight predictions for the coming lunar new year:
- The population of Chinese UHNW individuals with net worth in excess of US$500 million will grow by almost 6% to 535 individuals, while the growth of the Chinese UHNW population is expected to stagnate.
- Chinese UHNW individuals with net worth in excess of US$500 million will experience 4% growth in wealth to US$630 billion. Total Chinese UHNW wealth is expected to increase by only 2%.
- Despite this performance, China's total UHNW population and wealth will exceed Japan's by 2026, the next Year of the Horse.
- The liquidity of the average Chinese UHNW individual will increase from 12% to nearly 14% of net worth, still lower than the world average of 25%.
- The proportion of Chinese UHNW individuals deriving their wealth from industrial conglomerates will increase from 5.5% to 6.5%.
- 18% more of Chinese UHNW individuals' luxury spending will be done outside Greater China (i.e. China, Taiwan, Hong Kong) this year, primarily in American and European markets.
- The Chinese private jet market for UHNW individuals will grow by 30% in 2014.
- Currently, only 1,050 UHNW individuals are non-resident Chinese living outside Greater China. This population will grow by 8% this year to 1,135.
The Horse is the seventh zodiac sign in the 12-symbol Chinese horoscope. Wealth-X data shows that those born in the Horse year are the most highly educated among UHNW individuals, and donate more to education causes than any other zodiac sign.
This group also has the highest percentage of self-made UHNW individuals, such as self-made millionaire Wenliang Wang, the founder of China Rilin Construction Group who was born in 1954 and is estimated to be worth US$620 million. Wang is involved in various education projects at NYU and the National University of Singapore.
Wealth-X is the definitive source of intelligence on the ultra wealthy with the world's largest collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 12 offices in five continents. (www.wealthx.com)