Vietnam accounts for 0.2 per cent of global high-net-worth individuals

The 19^th edition of The Wealth Report was launched in March, providing in-depth insights into global wealth creation, movement, and management.

In 2024, according to Knight Frank’s Wealth Sizing Model, which measures the size of wealth cohorts globally, Vietnam accounted for 0.2 per cent of the total high-net-worth individual (HNWI) population, with 5,459 individuals possessing liquid assets of more than $10 million. This placed Vietnam sixth in Southeast Asia.

In terms of global growth, wealth continued to expand with a 4.4 per cent increase in the number of HNWIs. The Wealth Report highlights Asia as one of the fastest-growing regions for HNWIs, with an average regional growth rate of 5 per cent. According to previous editions of The Wealth Report, Vietnam consistently recorded high growth rates ranging from 5 per cent to 18 per cent before the COVID-19 pandemic. Post-pandemic, the growth rate has stabilised between 2.4 per cent and 5 per cent.

Research from McKinsey & Company reinforces the upward trajectory of wealth in Vietnam. The firm’s report, "Wealth Management in Vietnam: A $600 Billion Wealth Market by 2027", highlights a 15 per cent compound annual growth rate in wealth from 2011 to 2021, surpassing the regional average of 7 per cent. By 2027, personal financial assets in Vietnam are projected to reach approximately $600 billion. This steady wealth growth signals an increasing demand for comprehensive wealth management and real estate advisory services in the country.

Knight Frank’s findings align with these insights, noting that 44 per cent of family offices in the world plan to increase their investments in real estate, driven by both growth opportunities and wealth preservation. The report further underscores the prominence of real estate in investment strategies. Many respondents see real estate as part of a broader portfolio, balancing it with equities and venture capital. Real estate continues to be seen as a stable, long-term asset that protects purchasing power and generates reliable returns.

Vietnam's posts 2.4 per cent rise in ultra-wealthy individuals The number of ultra-high net worth individuals (UHNWIs) – those with assets of more than $30m – rose by 2.4 per cent in Vietnam last year, according to the Wealth Report 2024 compiled by property consultants Knight Frank.

Vietnam sees 82 per cent rise in ultra-high-net-worth individuals The number of ultra-high-net-worth individuals (UHWNIs) in Vietnam with a net worth exceeding $30 million stood at 583 in 2017, but by the end of last year, this figure had surged to 1,059, marking an 82 per cent increase in just five years, cited a report by Knight Frank.

Vietnamese place high value on pursuit of wealth The Vietnamese are highly focused on becoming wealthy, demonstrating a strong desire to catch up with European nations, according to a recent workshop.