“Asia Pacific remains one of the fastest-growing regions globally. Real GDP grew 4.5% y-o-y in 2024 – moderating slightly from 5.1% in 2023 but still outpacing the global average of 3.3%. Firm fundamentals have set the stage for the rapid ascent of wealth in the region. The number of HNWIs in Asia is projected to have grown 5% y-o-y to 855,000 in 2024. Growth in China and India is expected to help bring Asia’s share of new HNWIs globally to an estimated 47.5% between 2025 and 2028,” says Jen-Ai Chua, research analyst, Asia, Julius Baer.
The Julius Baer Global Wealth and Lifestyle Report 2025 highlights Singapore as the most expensive city in the world for high-net-worth individuals (HNWIs) for the third year running, reinforcing Asia Pacific’s continued dominance in global luxury rankings. The report, now in its sixth edition, reflects a broader shift in HNWI priorities as spending patterns evolve, risks are rebalanced, and the pursuit of longevity, both physical and financial, takes centre stage.
Asia Pacific remains the fastest-growing region in terms of wealth creation. The region’s real GDP expanded 4.5% in 2024, outpacing the global average. Its HNWI population grew by an estimated 5% to 855,000, driven by strong fundamentals in markets such as China and India. APAC is expected to contribute nearly half of all new HNWIs globally between 2025 and 2028.
