Hong Kong 2013 Wealth Book

Published: November 2013
No. of Pages: 121
   

Synopsis

  • This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Hong Kong.
  • The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country’s HNWIs have performed through the crisis.

Executive summary

There were 233,220 HNWIs and 3,308 UHNWIs in Hong Kong in 2012. This report reviews the performance and asset allocations of HNWIs and Ultra HNWIs in Hong Kong. It also includes an evaluation of the local wealth management market.

Scope

  • Independent market sizing of Hong Kong HNWIs across five wealth bands
  • HNWI volume, wealth and allocation trends from 2008 to 2012
  • HNWI volume, wealth and allocation forecasts to 2017
  • HNWI and UHNWI asset allocations across 13 asset classes
  • Geographical breakdown of all foreign assets
  • Alternative breakdown of liquid vs. investable assets
  • Number of UHNWIs in major cities
  • Number of wealth managers in each city
  • City wise ratings of wealth management saturation and potential
  • Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Hong Kong
  • Size of the Hong Kong wealth management industry
  • Largest domestic private banks by AuM
  • Detailed wealth management and family office information
  • Insights into the drivers of HNWI wealth

Key highlights

  • There were approximately 233,220 HNWIs in Hong Kong in 2012. These HNWIs held US$1.1 billion in wealth. The wealth per capita in the country in 2012 was approximately US$119,453.
  • Hong Kong HNWI numbers rose by 26.2%, following a marginal increase of 4.0% in 2011. • Equities, real estate and alternative products recorded the strongest growth during the review period.
  • There were 3,308 UHNWIs in Hong Kong in 2012, with an average wealth of US$104 million per person, making them the prime target group for wealth sector professionals. Of this total, there were 42 billionaires, 747 centimillionaires and 2,519 affluent millionaires.
  • In 2012, Hong Kong HNWIs held 39.8% (US$452 billion) of their wealth outside their home country, which is above the worldwide norm of 20–30%.

Reasons to buy

  • The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
  • The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
  • With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
  • Report includes comprehensive forecasts to 2017.
  • Also provides detailed information on UHNWIs in each major city.

Hong Kong 2013 Wealth Book

Table of Contents

1 Introduction
1.1 Details of this Report
1.2 Definitions

2 Executive Summary

3 Wealth Sector Fundamentals
3.1 Political Background
3.2 Economic Background
3.3 Social Background
3.4 Benchmarking Hong Kong Wealth in Context
3.4.1 Distribution of wealth in Hong Kong
3.5 HNWI Volume and Wealth Trends

4 Findings from the WealthInsight HNWI Database
4.1.1 Trends in HNWI Wealth to 2017
4.1.2 HNWI trend analysis
4.1.3 Trends of the wealth bands
4.1.4 Demographic breakdown of HNWIs
4.1.5 HNWIs – job titles
4.1.6 HNWIs – industry breakdown
4.1.7 HNWIs – industry performance
4.1.8 HNWIs – breakdown by city or town
4.1.9 HNWIs – town or city performance
4.1.10 HNWIs – town and city population densities
4.1.11 HNWIs – town and city forecasts
4.1.12 HNWIs – breakdown by district
4.1.13 HNWIs – district performance
4.1.14 HNWIs – district population densities
4.2 UHNWIs
4.2.1 UHNWI volume trend analysis
4.2.2 UHNWI wealth trend analysis
4.2.3 Demographic breakdown of UHNWIs
4.2.4 UHNWIs – industry breakdown
4.2.5 UHNWIs – town and city breakdown and performance
4.3 UHNWIs – Billionaires
4.3.1 Billionaire volume trend analysis
4.3.2 Billionaire wealth trend analysis
4.3.3 Billionaire per capita net worth trend analysis
4.3.4 List of billionaires
4.4 UHNWIs – Centimillionaires
4.4.1 Centimillionaires volume trend analysis
4.4.2 Centimillionaire wealth trend analysis
4.4.3 Centimillionaire per capita net worth trend analysis
4.5 UHNWIs – Affluent Millionaires
4.5.1 Affluent millionaire volume trend analysis
4.5.2 Affluent millionaire wealth trend analysis
4.5.3 Affluent millionaire per capita net worth trend analysis
4.6 Core HNWIs
4.6.1 Core HNWI volume trend analysis
4.7 Core HNWIs – Mid-Tier Millionnaires
4.7.1 Mid-tier millionnaire volume trend analysis
4.7.2 Mid-tier millionaire wealth trend analysis
4.7.3 Mid-tier millionaire per capita net worth trend analysis
4.8 Core HNWIs – Lower-Tier Millionaires
4.8.1 Lower-tier millionaire volume trend analysis
4.8.2 Lower-tier millionaire wealth trend analysis
4.8.3 Lower-tier millionaire per capita net worth trend analysis

5 Analysis of Hong Kong HNWI Investments
5.1 Analysis by Asset Classes
5.1.1 Trends in alternative assets
5.1.2 Trends in ‘art, wine and wheels’
5.1.3 Trends of investments in real estate
5.1.4 Trends of investments in cash and deposits
5.1.5 Trends of investments in fixed-income
5.1.6 Trends of investments in equity
5.1.7 Trends of Investments in business interests
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe
5.2.2 Investments in North America (Including the US, Mexico and the Caribbean)
5.2.3 Investments in Asia Pacific
5.2.4 Investments in Latin and South America
5.2.5 Investments in the Middle East
5.2.6 Investments in Africa
5.3 Alternative Breakdown: Liquid vs. Investable Assets
5.4 Analysis of Hong Kong UHNWI Investments

6 Competitive Landscape of the Wealth Sector
6.1 Competitive Landscape
6.1.1 Private banks
6.1.2 Chinese banks
6.1.3 Local Hong Kong banks
6.1.4 Multinational corporations
6.1.5 Wealth managers
6.1.6 Family offices
6.1.7 Trusts
6.1.8 Financial advisors
6.2 Developments in the Hong Kong Private Banking Industry
6.3 Offshore Wealth Management and Private Banking Industry
6.4 Hong Kong Wealth Management Industry – Clientele Model and Maturity
6.5 Behavioral Mapping of Wealth Management and Private Banking in Hong Kong
6.6 Porter’s Five Force Analysis – the Wealth Management Industry

7 Appendix
7.1 Additional Components of the Wealth Sector in Hong Kong
7.1.1 Philanthropy
7.1.2 Demand for intergenerational wealth transfer
7.1.3 Human resource availability for the wealth management industry
7.2 Regulations on Taxes
7.3 Regulations Related to Immigration, Investment and Employment
7.4 Key Drivers
7.4.1 HKD to US$ exchange rate
7.4.2 Real GDP growth
7.4.3 Per capita GDP
7.4.4 Domestic market capitalization
7.4.5 Commodity index
7.4.6 Foreign direct investments – inflow and outflow
7.4.7 Inflation rate
7.4.8 Interest rate
7.4.9 Balance of payments
7.4.10 Government debt
7.4.11 Stock market performance
7.5 Wealth Breakdowns

8 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions
Table 2: States in Hong Kong, 2012
Table 3: Largest Cities in Hong Kong, 2012
Table 4: Hong Kong HNWIs – Volume Distribution Wealth Pyramid, 2012
Table 5: Hong Kong HNWIs – Wealth Distribution Wealth Pyramid (%), 2012
Table 6: Hong Kong HNWI Industry Performance, 2008–2012
Table 7: Hong Kong HNWIs – Towns and Cities, 2012
Table 8: Hong Kong HNWIs – Growth in Top Towns and Cities, 2008–2012
Table 9: Hong Kong HNWIs – Population Density by Town and City, 2012
Table 10: Hong Kong HNWIs by Town or City, 2008–2017
Table 11: Hong Kong HNWIs – Growth Rates by Town or City, 2008–2017
Table 12: Hong Kong HNWIs by District, 2012
Table 13: Hong Kong HNWIs – State Performance, 2008–2012
Table 14: Hong Kong HNWIs – Population Density in States, 2012
Table 15: Hong Kong UHNWIs – Gender Performance, 2008–2012
Table 16: Hong Kong UHNWIs – Sources of Wealth (%), 2012
Table 17: Hong Kong UHNWIs in Top Towns and Cities, 2008–2017
Table 18: Hong Kong UHNWIs Growth Rates for Top Towns and Cities, 2008–2017
Table 19: Hong Kong Billionaires – Market Overview (US$ Billions) 2008–2017
Table 20: Hong Kong Top 10 Billionaires (US$ Billions), 2012
Table 21: Hong Kong Billionaire Wealth Growth, 2008–2012
Table 22: Hong Kong Centimillionaires – Market Overview, 2008–2017
Table 23: Hong Kong Affluent Millionaires – Market Overview, 2008–2017
Table 24: Hong Kong Mid-Tier Millionaires – Market Overview, 2008–2017
Table 25: Hong Kong Lower-Tier Millionaires – Market Overview, 2008–2017
Table 26: Hong Kong Allocations of HNWI Assets, 2008−2017
Table 27: Hong Kong HNWIs – Holdings Growth (%), 2008–2017
Table 28: Hong Kong HNWIs – Trends of Investments in Alternative Assets (%), 2008–2017
Table 29: Hong Kong HNWIs – Alternative Asset Composition (%), 2008–2017
Table 30: Hong Kong Trends in ‘Art, Wine and Wheels’, 2008–2012
Table 31: Global Prime Real Estate Prices per Square Meter in US$, 2012
Table 32: Hong Kong HNWIs – Percentage of Foreign Investment Allocations, 2008–2017
Table 33: Hong Kong HNWIs – Liquidity Breakdown (US$ Billion), 2008–2017
Table 34: Hong Kong HNWIs – Liquidity Breakdown (%), 2008–2017
Table 35: Hong Kong UHNWIs – Allocations and Share of HNWI Assets, 2012
Table 36: Hong Kong Top 10 Private Banks by AuM, 2012
Table 37: Hong Kong Top Foreign Private Banks by AuM, 2012
Table 38: Hong Kong Top 11 Wealth Managers by AuM, 2012
Table 39: Hong Kong Family Offices, 2012
Table 40: Wealth Management Industry – Recent Deal Activity in Hong Kong, 2013
Table 41: Hong Kong Income Tax Bands, 2012–2013
Table 42: HKD to US$ Exchange Rate, 2008–2017
Table 43: Hong Kong Real GDP Growth (%), 2008–2017
Table 44: Hong Kong GDP Per Capita (US$), 2008–2017
Table 45: Hong Kong Domestic Market Capitalization (US$ Billion) 2008–2012
Table 46: Hong Kong Commodity Indices, 2008–2017
Table 47: Hong Kong Foreign Direct Investments (US$ Billion), 2008–2017
Table 48: Hong Kong Inflation Rate (%), 2008–2017
Table 49: Hong Kong Money Market Rate (%), 2008–2017
Table 50: Hong Kong Balance of Payments (US$ Billion), 2008–2012
Table 51: Hong Kong Government Debt as a Percentage of GDP (%), 2008–2017
Table 52: Hong Kong Stock Market Performance, 2008–2012
Table 53: Hong Kong HNWI Wealth vs GDP Ratio, 2008–2017
Table 54: Hong Kong Appendix One
Table 55: Hong Kong Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of Hong Kong
Figure 3: Hong Kong Asset Price Performance, 2008–2012
Figure 4: Hong Kong HNWI Performance, 2008–2017
Figure 5: Hong Kong vs Global HNWIs
Figure 6: Hong Kong HNWIs – Growth Factor Correlation, 2008–2012
Figure 7: Hong Kong HNWIs – Volume Distribution Wealth Pyramid, 2012
Figure 8: Hong Kong HNWIs – Wealth Distribution Wealth Pyramid (%), 2012
Figure 9: Hong Kong HNWIs – Age Distribution, 2012
Figure 10: Hong Kong HNWIs – Job Titles, 2008–2012
Figure 11: Hong Kong HNWIs – Distribution by Industry, 2012
Figure 12: Hong Kong HNWIs – Town and City Performance, 2008–2012
Figure 13: Hong Kong HNWIs – Town and City Numbers, 2008–2012
Figure 14: Hong Kong HNWIs – Town and City Forecasts, 2013–2017
Figure 15: Hong Kong HNWIs – Town and City Numbers, 2013–2017
Figure 16: Hong Kong UHNWIs – Wealth Share vs Volume Growth, 2008–2012
Figure 17: Hong Kong UHNWIs – Volume by Wealth Band, 2008–2017
Figure 18: Hong Kong UHNWIs – Wealth by Wealth Band (US$ Billion), 2008–2017
Figure 19: Hong Kong UHNWIs – Age Distribution (Percentage Share), 2012
Figure 20: Hong Kong UHNWIs – Distribution by Industry, 2012
Figure 21: Hong Kong Billionaires – Market Overview, 2008–2017
Figure 22: Hong Kong Centimillionaires – Market Overview, 2008–2017
Figure 23: Hong Kong Affluent Millionaires – Market Overview, 2008–2017
Figure 24: Hong Kong Mid-Tier Millionaires – Market Overview, 2008–2017
Figure 25: Hong Kong Lower-Tier Millionaires – Market Overview, 2008–2017
Figure 26: Hong Kong HNWIs – Asset Class Composition, 2008–2017
Figure 27: Hong Kong HNWIs – Trends in Alternative Assets (US$ Billion), 2008–2017
Figure 28: Hong Kong Trends in ‘Art, Wine and Wheels’, 2008–2012
Figure 29: Hong Kong HNWIs – Foreign Investment Allocation and Growth (%), 2013–2017
Figure 30: Hong Kong HNWIs – Global Distribution of Foreign Investments, 2008–2017
Figure 31: Hong Kong HNWIs – Liquidity Breakdown (%), 2008–2017
Figure 32: Hong Kong UHNWIs – Asset Class Composition, 2008–2017
Figure 33: Hong Kong Wealth Management Industry – Maturity Level of Players
Figure 34: Hong Kong Wealth Management Industry – Behavioral Mapping, 2012
Figure 35: Hong Kong Wealth Management Industry – Five Forces Analysis
Figure 36: HKD to US$ Exchange Rate, 2008–2017
Figure 36: Hong Kong Real GDP Growth (%), 2008–2017
Figure 38: Hong Kong GDP Per Capita (US$), 2008–2017
Figure 39: Hong Kong Domestic Market Capitalization (US$ Billion), 2008–2012
Figure 39: Hong Kong Commodity Indices, 2008–2017
Figure 40: Hong Kong Foreign Direct Investments (US$ Billion), 2008–2017
Figure 41: Hong Kong Inflation Rate (%), 2008–2017
Figure 42: Hong Kong Money Market Rate (%), 2008–2017
Figure 43: Hong Kong Balance of Payments (US$ Billion), 2008–2012
Figure 44: Hong Kong Government Debt as a Percentage of GDP (%), 2008–2017
Figure 46: Hong Kong Stock Market Performance, 2008–2012
Figure 47: Hong Kong HNWI Wealth vs GDP Ratio, 2008–2017
Figure 48: Hong Kong HNWIs – Volume by Wealth Band, 2008–2017
Figure 49: Hong Kong HNWIs – Wealth by Wealth Band (US$ Billion), 2008–2017
Figure 50: Hong Kong HNWIs – Wealth Per Capita (US$ Million), 2008–2017

Published By: WealthInsight
Product Code: WealthInsight759


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