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By 2030, some 98% of next-generation High Net Worth Individuals (HNWIs) in India are planning to increase their offshore assets by more than 10%, reported Capgemini on Wednesday.
According a World Wealth Report 2025 released by the French tech firm, this greater focus on offshore investments (investments or physical assets such as real estate or jewellery, or financial assets like bank accounts, investments, and insurance policies outside their home country) comes from better investment options (55%), better wealth management services (65%), better market connectivity (54%), better tax regulations and economic and political stability (49%).
Further, the survey found, India and Japan stood out in the Asia-Pacific region, with both countries registering 5.6% growth in the number of high net worth individuals, adding 20,000 and 210,000 millionaires, respectively, in 2024.
Within the largest individual markets, the U.S. led the growth adding 5,62,000 millionaires as the country’s HNWI population grew by 7.6% to 7.9 million in 2024. India had 378,810 millionaires at the end of last year with a total wealth of $1.5 trillion, Japan had 3989820 millionaires with a total wealth of $9.9 trillion and China had 15,02,460 millionaires at the end of 2024 with a total wealth of $7.9 trillion.
India had 333,340 millionaires next door at the end of 2024, with a wealth of $628.93 billion and the country also had 4290 ultra HNWIs at the end of CY24 with a wealth of $534.77 billion.
It further found that the global HNWIs population rose by 2.6% in 2024 and this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicated that alternative investments, such as private equity and cryptocurrencies, were now an established presence in HNWI holdings, representing 15% of their portfolios.
Globally, some 6472 HNWIs, including 5,472 next gen HNWIs were part of this study. Some 19% of these people were from the AsiaPac region, including India.
Published – June 04, 2025 08:18 pm IST
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