How good are high and ultra-high-net-worth individuals in Asia-Pacific at doing good?


Asia-Pacific is experiencing the most rapid growth of wealth in history, due to the economic expansion of China and emerging Asia.Currently in the Asia Pacific, total household wealth grew by 3%, or $3,346 billion, since mid-2017, to $114,561 billion. Furthermore, wealth in the region is expected to grow at 5.9% per year to reach $153 trillion in 2023, with the number of millionaires expected to increase by 7.6% annually to reach 15 million in 2023. The ultra-high net-worth segment in the same period is expected to grow by 8% annually, with contributing 46%.

Asia-Pacific is experiencing the most rapid growth of wealth in history, due to the economic expansion of China and emerging Asia.Currently in the Asia Pacific, total household wealth grew by 3%, or $3,346 billion, since mid-2017, to $114,561 billion. Furthermore, wealth in the region is expected to grow at 5.9% per year to reach $153 trillion in 2023, with the number of millionaires expected to increase by 7.6% annually to reach 15 million in 2023. The ultra-high net-worth segment in the same period is expected to grow by 8% annually, with contributing 46%.
 
It will also experience the largest shift of wealth from the current generation to the next in the coming five years. At the same time, the Asia-Pacific is going through the widest inequality gap in history, and an unprecedented level of degradation to the environment.
 
However, there is a growing awareness and desire among the wealthy to deploy their wealth for the betterment of their community, society, and the world at large, especially with Generation X and millennials.
 
How are Asian high net worth individuals taking to the concepts of philanthropy and responsible investing?
 
Discussion Agenda:
 
  • Increased interest and support for philanthropy
  • A preference for corporate structures
  • The creation of the Doing Good Index

 

View Past Sessions View all

May 06 | 2021
Image
Will card payment survive a digital-first world?

The retail payments landscape has always been ripe for disruption and innovation not just because of evolving consumer behaviour but also due to regulatory reforms and governments’ drive for financial inclusion and digital payment. Concerns…

      2741
Apr 27 | 2021
Image
Signature Bank’s Shay: “Bitcoin has proven itself a store of value”

Scott A. Shay is the co-founder of the Signature Bank and has served as Chairman of the Board since its inception in 2001.

      1078
Apr 14 | 2021
Image
WTO’s Koopman: “Global trade wasn’t adversely affected by US-China conflicts”

The outbreak of COVID-19 has disrupted global trade and added momentum towards the deglobalisation trend. Even before the pandemic hit, several factors such as nationalism, protectionism, and trade tensions have been driving the world economy…

      2308
Apr 08 | 2021
Image
"Banks have mixed up digital transformation with optimisation"

At the Finance Vietnam Leadership Dialogue 2021, heads of retail banking, products and businesses, including Le Xuan Vu, MB Bank; Dinh Van Chien, TP Bank; Augustine Wong Kok Seng, VP Bank; Bryan Carroll, TNEX; Gunneet Singh, Ubank; Kanishk…

      849