Taiwan's ultra-rich population ranks 19th globally

Taiwan ranks 19th on the global list with 1,781 ultra-high net worth individuals

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(Photo from GoodFreePhotos)

(Photo from GoodFreePhotos)

Taipei, June 4 (CNA) Taiwan ranks 19th globally in terms of the population of ultra-rich people whose net worth exceeds US$30 million, according to a recent report from real estate consulting firm REPro Knight Frank.

In its Wealth Report 2019 published Tuesday, REPro Knight Frank pointed out that there are 198,342 ultra-high net worth individuals (UHNWI) in the world, whose net values are over US$30 million excluding their primary residences.

The figure represents a year-on-year growth of 3.7 percent, according to the consulting firm.

Taiwan ranks 19th on the global list with 1,781 UHNWIs, 4 percent more than the previous year. In terms of the density of UHNWI, Taipei ranks second in Asia with 57 UHNWIs per 100,000 people, according to the report.

The United States topped the global list with 47,127 UHNWIs, followed by Japan with 18,534, Germany with 14,047, the United Kingdom with 12,559 and China with 9,953.

In the City Wealth Index, London ranks first with 4,944 UHNWIs, while Taipei ranks 11th with 1,519 UHNWIs. Asian cities dominated the top 10 spots with Tokyo, Singapore, Hong Kong, Beijing, Seoul and Osaka making it onto the list.

In terms of UHNWI density, Geneva was number one, with 675 UHNWIs per 100,000 people, followed by Monaco, with 576 per 100,000 and Frankfurt with 288 per 100,000.

The global UHNWI population is forecast to grow by 22 percent over a five-year period from 2018 to 2023, with many Asian countries projected to enjoy high UHNWI population growth, said Andy Huang (黃舒衛), director of REPro Knight Frank's research department.

Among these countries, UHNWIs in India and the Philippines are expected to increase by 38 percent and 39 percent, respectively, while those in China are forecast to increase by 35 percent.

Some members of the Association of Southeast Asian Nations, including Indonesia, Malaysia, Vietnam and Thailand, are forecast to increase by 30 percent and Taiwan UHNWIs are expected to increase by 25 percent.

With the U.S.-China trade war intensifying, 62 percent of UHNWIs around the globe believe that it will be more difficult to create and preserve wealth, while in Taiwan, the figure reaches 67 percent, according to the report.