According to a report by AfrAsia Bank, global wealth, which has risen by 27 per cent over the past 10 years (from $169 trillion at the end of 2007 to $215 trillion at the end of 2017), assisted by strong wealth growth in Asia, is expected to rise by 50 per cent over the next decade, reaching $321 trillion by 2027.
This will again be driven by strong growth in Asia.
The first UAE's English newspaper Khaleej Times reported India will be recording the fastest growth of 200 per cent over 10 years to emerge as the fourth wealthiest country in the world with a private wealth of $24.69 trillion, overtaking the UK and Germany.
The AfrAsia Bank Global Wealth Migration Review 2018 report also revealed Asia's third-largest economy, currently ranked as sixth wealthiest in the world, also topped the list of "Best Performing Wealth Markets" with a growth of 25 per cent to $8.23 trillion as the global wealth rose by 12 per cent in 2017 (from $192 trillion at the end of 2016 to $215 trillion at the end of 2017)
"Wealth migration figures are a very important gauge of the financial health of an economy. For instance, if a country is losing a large number of high networth individuals (HNWIs) to migration, it is probably due to serious problems in that country (crime, lack of business opportunities, religious tensions etc.).
"Conversely, countries that attract HNWIs tend to be very healthy and normally have low crime rates, good schools and good business opportunities," said AfrAsia Bank report.
Herewith is the full list of Best Performing Wealth Markets In the World, 2016-2017. There's only one from this region is keeping the good economy track:
The report included Vietnam's city that will drive global wealth, as per AfrAsia, is Ho Chi Minh City.