The value of the worldwide wealth management market for non-resident Indian (NRI) millionaires increased at a compound annual growth rate (CAGR) of over 9% from 2007 to 2011, and is expected to increase at nearly 11% between now and 2016, according to a BRICdata report.
Date: May 4, 2012
The value of the worldwide wealth management market for non-resident Indian (NRI) millionaires increased at a compound annual growth rate (CAGR) of over 9% from 2007 to 2011, and is expected to increase at nearly 11% between now and 2016, according to a BRICdata report.
In 2011, the population of overseas Indians, including NRIs and persons of Indian origin (PIOs), reached 21.6 million, said the report. The US accounts for the largest proportion of NRI millionaires, followed by the UK, the UAE, Canada, Hong Kong, Singapore and Indonesia.
With this worldwide base, India already has the world’s second-largest non-resident national population. The NRI millionaire count of 170,000 is also among the highest in the world, with this group having average wealth of over US$3 million per person.
Moreover, the total wealth of NRI millionaires is expected to increase by 6.9% from 2011 to 2012, while the NRI population is currently growing by 1% per annum. This equates to an annual increase of 300,000 people, a growth expected to increase opportunities for wealth management providers.
More details: http://www.prnewswire.com/news-releases/south-asias-wealth-diaspora-looking-beyond-non-resident-indians-148726875.html
