A study utilising Knight Franks Wealth Sizing Model reveals that the required wealth to be included in the ranks of the super-rich varies significantly from country to country. In Monaco, a nation known for its high concentration of wealthy individuals, the entry threshold for the exclusive 1 percent club is set at $12.4 million.The difference in wealth requirements between countries is evident in this study, with Switzerland ranking second and having an entry threshold of $6.6 million, which is half the amount needed in Monaco. In Asia, Singapore boasts the highest entry point at $3.5 million, followed closely by Hong Kong at $3.4 million, as per the report.Image: googleKnight Frank predicts a significant rise in Indias ultra-high-net-worth individuals (UHNWI) with a net worth of over $30 million. The number of individuals in this category is estimated to increase by 58.4 percent in the next five years, from 12,069 in 2022 to 19,119 by 2027. Additionally, Indias billionaire population is projected to grow from 161 individuals in 2022 to 195 individuals in 2027.According to the report, the population of high-net-worth individuals (HNIs) in India, with assets valued at $1 million or more, is expected to experience a remarkable growth. From the recorded figure of 797,714 individuals in 2022, the HNI population is projected to reach 1.65 million, reflecting an impressive 107 percent increase over the next five years.The report highlights that in 2022, the global population of ultra-high-net-worth individuals (UHNWIs) experienced a decline of 3.8 percent. This came after a notable increase of 9.3 percent in 2021. The economic slowdowns, frequent rate hikes, and escalating geopolitical uncertainties had a direct impact on the wealth and financial portfolios of the ultra-wealthy, leading to this decline.India, too, experienced a decline in the number of ultra-high-net-worth individuals (UHNWIs), with a decrease of 7.5 percent in 2022 compared to the previous year. Apart from the impact of interest rate hikes, the depreciation of the US dollar also affected the overall growth of wealth in India. However, the high-net-worth individual (HNI) population continued on a growth trajectory, registering a 4.5 percent increase in 2022. Additionally, Indias billionaire population saw an 11 percent rise in 2022 compared to the previous year, as per the report.
