Vietnam forecast to be fastest growing market for centi-millionaires over next decade

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India is next in line with an anticipated 80 per cent growth rate in individuals worth more than USD100 million by 2032.

Under the report released recently by leading international residence and citizenship by investment advisory firm Henley & Partners, with an astonishing 95 per cent growth rate predicted, this emerging Asian manufacturing hub is expected to see a strong growth of centi-millionaires in the real estate, technology, and financial services sectors.

Three other countries on the continent make it into the top league of fastest growing centi-millionaire markets in the next decade — Rwanda , Uganda , and Kenya . The big emerging markets of China and India follow in second and third place, with populations of 2,021 and 1,132 centi-millionaires, respectively. They rank significantly higher than the main European markets by this measure, with the UK in fourth place followed very closely by Germany in fifth place .

“The centi-millionaire is someone so affluent that they don’t need to think about how much they spend," he said. However, the report does point out some notable generational differences. While a growing number of younger entrepreneurs who founded successful tech companies are newcomers to the club, Baby Boomers still tend to dominate the centi-millionaire circle despite many now cashing in their stock options and selling their businesses.

 

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