As a country in Southeast Asia, Thailand is known for its tropical beaches and rich history. Bangkok, its capital, is a very popular city for the ultra-wealthy, as it offers modern amenities and tropical weather not far from nature’s escapes.
According to Knight Frank’s latest edition of The Wealth Report, Asia-Pacific is host to the world’s leading wealth hub. The affluent continue to be bullish on the region’s trajectory, which can be witnessed by the forecasted growth in the UHNWI and HNWI population between 2021 and 2026, which will be the fastest across all regions.
As the wealth boom shifts east, the billionaire population of APAC will also rise quicker than the global average (33.7%), at 36.7% during the next half a decade. By 2026, more than a third of the world’s billionaires will be from the region, a proportion that has continued to rise. This reinforces that Asia-Pacific will be the engine of wealth creation in the 2020s. While gateway markets continue their path of stable and resilient growth and developing markets play catch-up at a very rapid rate.
According to reports, a new class of super-wealthy is emerging and is known as the centimillionaires. These investors consider establishing residency and citizenship in multiple countries, and the multinational living that accompanies it, as key to their wealth management strategies. As Forbes advises, “the super-rich increasingly pursue domicile diversification to broaden investment opportunities and business operations—and to have location fluidity that safeguards against risks ranging from geopolitical conflict to climate change to a viral outbreak.”
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