How the Asia-Pacific Wealth Boom Is Changing Global Wealth
The Asia-Pacific area is quickly becoming a major source of global wealth. Asia–Pacific is on course to create over half of the world’s new high-net-worth individuals (HNWIs) between 2025 and 2028. This is happening because more people are using digital technology, wealth is being passed down from one generation to the next, and new policies are being put in place.
Indiatimes +10, The Asset +10, Henley Global +10, and so on. This is a detailed look at the factors behind this huge change and what it means for wealth management, financial services, and the world’s economy.

- A Rise in People with High Net Worth
The Asia-Pacific region is becoming richer faster than any other area. The number of HNWIs expanded by 5% in 2024, while the number of HNWIs around the world grew by 4.4%. Knight Frank thinks this number will rise to 8.7% by 2028. China and India are the main drivers, with India producing 26 new billionaires in a single year. This is a huge jump from the seven billionaires who were added in 2019.
The Asset. - Billionaire Wealth Boom: Almost 40% of the world’s billionaires now live in the Asia-Pacific region, and their total wealth has doubled in the last ten years.
+12 South China Morning Post
The Asset
McKinsey & Company +12. In just one year, the wealth of billionaires in India and Indonesia grew by 42.1% and 47.1%, respectively.
The Asset At the same time, new technologies in fintech, such as generative AI and digital platforms for the general market, have brought industries like technology and financial services to the forefront. - New Wealth Hubs: Singapore, Hong Kong, and Japan
Singapore is still a popular place for rich people to live. In 2025, it is expected to get around 1,600 millionaires.
Rostrum Grand +4
Henley Global +

Reddit +4. The Economic Times, Reddit, and Indiatimes all report that family offices are growing quickly, going from 1,100 in 2020 to 2,000 in 2024. This makes the city a top asset-management center. Hong Kong is back in the top 10 in the world for net millionaire inflows, getting money from mainland China and helping private banking thrive. Japan is becoming a stable option, luring wealthy expats and bringing approximately 600 net millionaire inflows in 2025.- Next-Gen Wealth: Digital Assets and Family Offices
As wealth moves to Gen X, millennials, and Gen Z, new needs arise. Financial services must now provide AI-driven personalization, smooth digital experiences, and solutions that are founded on values.
The Asset. By 2030, more than $5.8 trillion will have moved between generations in the Asia-Pacific region.
The Asset +1
McKinsey & Company +1. Family offices are becoming more popular and using technology like AI for risk analysis and strategy planning.
Indiatimes +15
Bloomberg +15
The Economic Times +15. Additionally, sustainable and impact investment is no longer a specialty; 28% of billionaires in the region now engage in purposeful investing, up from 13% a decade ago. - Digital Wealth: A Chance to Make $700 Billion
People are changing the way they manage their money. McKinsey thinks that by 2028, $700 billion in personal financial assets will move from traditional banks to WealthTech platforms. This will happen because tech-savvy upper-middle and high-net-worth individuals will want to use them. New WealthTech products, such robo-advisors and hybrid human-digital models, are changing the way things work. Bank players are quickly improving their digital infrastructure to meet these needs. - Cross-Border Flows and the Explosion of AUM
Wealth managers in Asia are expanding their global services: 11% of Asia’s high-net-worth assets are already in other countries.
McKinsey & Company +3
South China Morning Post +3
Henley Global +3. The South China Morning Post says that Accenture thinks that regional AUM would almost treble to $260 trillion by 2026. Banks including Standard Chartered, UBS, and HSBC are adding more offshore consulting services to help clients with complicated needs that straddle borders.
Reuters
