Rich and Poor: Austria loses 8,000 millionaires despite global growth!
Rich and Poor: Austria loses 8,000 millionaires despite global growth!
Österreich - In 2024 the capgemini research institute the wealthy private individuals (HNWIS) by 2.6%. The particularly rich investors, which are categorized as ultra-high-conscious (Uhnwi), even grew by 6.2%. The cause of this increase are the strong stock markets and optimism with regard to developments in the field of artificial intelligence.
In contrast to this global trend, Europe is faced with a decline of 2.1% in the number of wealthy people, where 8,000 millionaires were lost in Austria alone. This phenomenon is in contrast to the increase in the super rich in Europe, which increased by 3.5%. While North America was leading with a remarkable increase of 562,000 millionaires and the HNWI population increased by 7.6% to a total of 7.9 million, the Asian-Pacific region recorded moderate growth of 2.7%. There, countries such as India and Japan grew by 5.6%each.investment behavior of the wealthy
According to the report, 15% of HNWIS portfolios are eliminated on alternative systems such as private equity and cryptocurrencies. This diversification in alternative investments shows a development towards risk -conscious and adaptable investment strategies, especially among younger generations. 61% of Millennials and Generation Z are willing to take more risks to increase their assets. The asset management companies also have to adapt to operate these aspiring investors, since 81% of the heirs plan to change their asset managers within one to two years after their inheritance.
This situation could lead to a massive transfer of wealth, of which a total of $ 83.5 trillion is expected within the next two decades. Most of this transfer should be completed by the end of 2040. Especially in North America, where the majority of the HNWIS invests in financial and liquid systems, this could result in significant changes in asset management.
global trends and challenges
The number of HNWIS is estimated at around 22.84 million worldwide, with their assets mainly concentrated in North America and the Asia-Pacific region. In Europe, the region is in third place in relation to the assets of wealthy individuals, but with a decreasing trend that is reinforced in view of the current economic uncertainties and sunken oil prices in the Middle East.
Overall, the global trend of asset management shows that the demand for sustainable investment options and alternative investments increases. Wealth managers worldwide even expect a slight increase in their customers' assets. While asset managers in Asia have the most optimistic perspectives, an image of changing expectations and adjustments in the strategy is ideal for meeting the demands of a new generation of investors, as reported.
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