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Vietnam has more than 1,000 super-rich people with assets of over 30 million USD. (Source: Thanh Nien) |
To be classified as super-rich, an individual must own assets of 30 million USD (about 700 billion VND) or more, including the real estate in which they reside.
Vietnam had 583 super-rich people in 2017. This number reached 1,059 by the end of 2022, an increase of 82% in just 5 years.
Knight Frank predicts that by 2027, the number of super-rich people will nearly reach 1,300, an increase of 22% compared to the present and equivalent to an increase of 122% within 10 years.
Not only that, in Vietnam, the number of rich people, individuals with assets of 1 million USD or more, also increased by 70% in the past 5 years, from 40,971 people in 2017 to nearly 70,000 people last year.
The report said that Vietnam will have more than 112,200 rich people by 2027, equivalent to a growth rate of 173% in 10 years.
The change in the rich and super-rich population in Vietnam is also part of the prosperity trend across Asia. Accordingly, Singapore, Malaysia and Indonesia lead the markets with the fastest growing super-rich population, about 7-9%.
In the Asia- Pacific region, the ultra-rich population has increased by nearly 51% over the past five years by 2022. Although this growth is predicted to slow to 40% in the next five years, this is still the region leading in terms of growth in the number of wealthy people.
On a global scale, Victoria Garrett, Head of Residential Services for APAC at Knight Frank, said the ultra-wealthy population declined last year. However, the number of wealthy individuals still increased by 2.9%, reaching nearly 70 million people worldwide .
"In the long term, the region still has a lot of potential and prospects for prosperity, leading in terms of ultra-rich population and economic development opportunities," said Christine Li, Head of APAC Research Services at Knight Frank.
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