Indonesias Ultra-Rich Population Soars, Poised for Fastest Global Growth

In Southeast Asia, Indonesia holds the second position in terms of inhabitants who possess a net worth of US$30 million or more, according to a recent report. Projections anticipate that this figure will nearly double within the next five years. Presently, the country boasts 3,833 ultra-high net worth individuals, marking a 37% increase since 2021.

Global Wealth Growth

By the year 2031, the number of ultra-high net worth individuals in Indonesia is forecasted to spike by 82%, reaching 6,966. This growth signifies the fastest expansion rate globally. Indonesia is one of the rapidly maturing economies expected to take the lead in the global ultra-high net worth population’s growth over the subsequent five years.

Singapore currently holds the top spot in Southeast Asia for its population of ultra-high net worth individuals, tallying at 7,171. Thailand follows in third place with 2,853, trailed by the Philippines (1,910), Malaysia (1,566) and Vietnam (1,233).

The wider Asia-Pacific area accounts for almost 31% of the world’s ultra-high net worth population. This percentage is second only to North America, which holds 37%.

The U.S. and China: Global Leaders

On a worldwide scale, the U.S. and China hold the lead in terms of ultra-high net worth populations, with more than 251,300 and 121,600 individuals respectively. Moreover, the U.S. also takes the reins regarding wealth creation, constituting approximately 41% of the newly minted ultra-wealthy over the past five years.