World Wealth Report 2024

The World Wealth Report 2024 by the Capgemini Research Institute provides a comprehensive overview of global wealth, focusing on high-net-worth individuals (HNWIs) across 71 countries, which collectively represent over 98% of global gross national income and 99% of world stock market capitalization.

Key Points from the Report:

1. Coverage and Scope:
   • The report encompasses 71 countries, covering a significant portion of the global economy and stock market activity.
   • This broad scope provides a detailed picture of global wealth distribution and trends.
2. High-Net-Worth Individuals (HNWIs):
   • Definition: HNWIs are individuals with investable assets of USD 1 million or more, excluding primary residence, collectibles, consumables, and consumer durables.
   • Wealth Bands:
     • Ultra-HNWIs: Individuals with USD 30 million or more.
     • Mid-Tier Millionaires: Individuals with wealth ranging from USD 5 million to USD 30 million.
     • Millionaires Next Door: Individuals with wealth between USD 1 million and USD 5 million.

Insights:

• Trends and Changes: The report likely highlights trends in wealth accumulation, shifts in the distribution of wealth among the different categories of HNWIs, and regional variations.
• Economic Impacts: It may discuss how global economic conditions, investment behaviors, and policy changes are influencing the wealth of HNWIs.
• Future Outlook:Predictions about the future state of global wealth, potential growth areas, and emerging markets could be covered.

Highlights from the report

1.Global Growth:

1. • Wealth: Increased by 4.7%, reaching $86.8 trillion.
   • Population: Expanded by 5.1%, reaching 22.8 million HNWIs.
2. Regional Performances:
   • North America: Showed the strongest recovery with 7.2% growth in wealth and 7.1% in population, driven by economic resilience, cooling inflation, and a strong US equity market rally.
   • Asia-Pacific (APAC): Wealth grew by 4.2% and population by 4.8%. Notable performers included India and Australia, with India’s HNWI population growing by 12.2% and wealth by 12.4%.
   • Europe: Wealth grew by 3.9% and population by 4.0%.
   • Latin America: Limited growth with wealth increasing by 2.3% and population by 2.7%.
   • Middle East: Wealth up by 2.9% and population by 2.1%.
   • Africa: Experienced a decline in both wealth (-1.0%) and population (-0.1%) due to falling commodity prices and reduced foreign investment.
3. India's Performance:
   • HNWI Population: Increased by 12.2%, totaling 3.589 million.
   • Financial Wealth: Rose by 12.4% to $1,445.7 billion.
   • Market Capitalisation: Grew by 29.0%, following a 6% increase in 2022.
   • National Savings: Increased to 33.4% of GDP from 29.9% in 2022.
   • Unemployment Rate: Decreased to 3.1% from 3.6% in 2022.

Overall, the report highlights a positive rebound in global HNWI wealth and population, with varying regional performances, and significant growth in India’s HNWI sector.