South Asia’s Wealth Diaspora: Looking Beyond Non-Resident Indians

South Asia’s Wealth Diaspora: Looking Beyond Non-Resident Indians

Executive Summary

The population of overseas Indians, including non-resident Indians (NRIs) and persons of Indian origin (PIOs), reached 21.6 million in 2011. The US accounts for the largest proportion of NRI millionaires, followed by the UK, the UAE, Canada, Hong Kong, Singapore and Indonesia. The population of overseas Pakistanis, including non-resident Pakistanis (NRPs) and persons of Pakistani origin (PPOs) reached eight million in 2011. The UK has the largest share of NRP millionaires, followed by the US, the Persian Gulf countries and Canada. The population of non-resident Bangladeshis (NRBs) reached 5.4 million in 2011. The Persian Gulf countries account for the largest number of NRB millionaires, followed by the UK and the USA. The population of overseas Sri Lankans, including non-resident Sri Lankans (NRSLs) and persons of Sri Lankan origin (PSLOs) reached 2.5 million in 2011. Singapore accounts for the highest proportion of overseas Sri Lankans in 2011; followed by Canada, the UK and the UAE.

Key highlights of this title

  • The value of the worldwide wealth management market for NRI millionaires increased at a compound annual growth rate (CAGR) of 9.40% during the review period. This value is expected to increase at a CAGR of 10.93% over the forecast period.
  • With a worldwide NRI base of 21.6 million, India already has the world’s second-largest non-resident nationals’ population. The country’s 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. Moreover, the total wealth of NRI millionaires expected to increase by 6.9% in 2011-2012, and the NRI population is currently growing bzy 1% per annum. This equates to an annual growth of 300,000 people, a growth that is expected to increase opportunities for wealth management services providers.
  • With Persian Gulf countries accounting for 48% of the total non-resident Pakistani population, Gulf-based NRPs are one of the largest markets for wealth management companies. In terms of proportion of total NRP population, the Persian Gulf countries are followed by the UK and the US. Furthermore, Saudi Arabia and the UAE both employ a considerable number of Pakistani workers. Consequently, many leading domestic and international banks are focusing on these customers in order to expand their wealth management businesses.
  • The total amount of NRB remittance sent to Bangladesh recorded robust growth during the review period. However, this growth is slowing rapidly with, for example, the 2011 annual growth of 6% being less than half than the 2010 annual growth of 13.4%. Over the forecast period, the increasing number of Bangladeshis leaving their home country is expected to continue to drive remittance growth, with total remittance expected to record a CAGR of 12.02%.
  • The value of the worldwide wealth management market for NRSL millionaires increased at a CAGR of 12.43% during the review period. This value is expected to record a CAGR of 11.31% over the forecast period.

Scope

  • This report provides an extensive analysis on the wealth management market for non-resident South Asians
  • It details historical values for wealth management market size of non-resident South Asian millionaires for 2007–2011, along with forecast figures for 2012–2016
  • The report provides a detailed analysis on investment trends and drivers, marketing strategies, challenges in wealth management market for non-resident South Asians
  • The report profiles top wealth management providers across the globe providing services to non residents South Asians

Reasons to Purchase

  • Take strategic business decisions using top-level historic and forecast market data related to wealth management market for non-resident South Asians.
  • Understand the growth drivers of the wealth management market for non-resident South Asians, along with key market trends and growth opportunities
  • Assess the marketing and growth strategies adopted by the banks and other wealth management service providers for non-resident South Asians
  • Assess the competitive dynamics in the wealth management market for non-resident South Asians

More information available at:

http://bricdata.com/research/report/IS0208MR/

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