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HSBC 2030 Millionaires Forecast: China to Have 50 Million, Top 5 Most Concentrated APAC Countries are Singapore, Australia, Hong Kong, Taiwan & South Korea

19th August 2022 | Hong Kong

HSBC has released a report on the millionaire population in Asia-Pacific by 2030, with China forecast to have 50 million millionaires by 2030, India to have 6 million millionaires and Singapore to have the highest millionaire concentration with 13.4% of population (2030: 700,000, Current: 400,000). The top 5 most millionaire concentration in APAC by 2030 are: Singapore (13.4%), Australia (12.5%), Hong Kong (11.1%), Taiwan (10.2%) & South Korea (8.8%).  The HSBC report is titled: “The Rise Of Asian Wealth.”  Frederic Neumann, HSBC Chief Asia Economist & Co-Head of Global Research Asia:  “An account of Asia’s growing wealth also shines a light on the societal resources that are ultimately available to lift millions more out of poverty.  After all, the region is hardly short of capital, even if this is unevenly distributed, both between and within economies.”  See below for Top 10 most millionaire concentration in APAC by 2030.

“ China to Have 50 Million, Top 5 Most Concentrated APAC Countries are Singapore, Australia, Hong Kong, Taiwan & South Korea “

 


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Top 10 Most Millionaire Concentration in APAC by 2030:

Shanghai Pudong City | Leading Financial Centre in Asia
Top 10 Most Millionaire Concentration in APAC by 2030:
  1. Singapore (13.4%)
  2. Australia (12.5%)
  3. Hong Kong (11.1%)
  4. Taiwan (10.2%)
  5. South Korea (8.8%)
  6. New Zealand (8.5%)
  7. Japan (7.2%)
  8. China (4.4%)
  9. Malaysia (4.3%)
  10. Thailand (2%)
Most Millionaire in Asia 2030:
  • China: 50 million millionaires
  • India: 6 million millionaires



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