PBI has drawn on WealthInsight’s research to analyse a specific industry which plays a major part in driving high net worth wealth creation. This month PBI looked at technology in Israel, US, UK, China, India and Canada.

Technology industry has always represented a huge investment opportunity for many countries around the world and wealth creator.

Tech is now, more than ever, one of the most competitive economic sectors and firms constantly need to adapt their business models in terms of costs management, products and services quality and innovation to prosper.

Despite the continued economic uncertainties, tech companies are still investing in new products. Mobile and digital devices, marketing technologies and the internet will keep driving the industry in the coming years.

The technology industry is highly competitive especially for new players coming from emerging economies. It continues to be an active actor in the creation of UHNWIs in some key countries.

Key geographies
Countries with high level of human capital development, research and innovation, and high capital are a hub for investors in the tech sector.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

View profiles in store

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Submit

UK USA Afghanistan Åland Islands Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos Islands Colombia Comoros Congo Democratic Republic of the Congo Cook Islands Costa Rica Côte d"Ivoire Croatia Cuba Curaçao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Holy See Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati North Korea South Korea Kuwait Kyrgyzstan Lao Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macedonia, The Former Yugoslav Republic of Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palau Palestinian Territory Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Réunion Romania Russian Federation Rwanda Saint Helena, Ascension and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and The Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and The South Sandwich Islands Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates US Minor Outlying Islands Uruguay Uzbekistan Vanuatu Venezuela Vietnam British Virgin Islands US Virgin Islands Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Kosovo

Industry * Academia & Education Aerospace, Defense & Security Agriculture Asset Management Automotive Banking & Payments Chemicals Construction Consumer Foodservice Government, trade bodies and NGOs Health & Fitness Hospitals & Healthcare HR, Staffing & Recruitment Insurance Investment Banking Legal Services Management Consulting Marketing & Advertising Media & Publishing Medical Devices Mining Oil & Gas Packaging Pharmaceuticals Power & Utilities Private Equity Real Estate Retail Sport Technology Telecom Transportation & Logistics Travel, Tourism & Hospitality Venture Capital

Tick here to opt out of curated industry news, reports, and event updates from Private Banker International.

Submit and download

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In recent times Israel has become one of the world’s leading high-tech centres. Israel dedicates 4.5% of its GDP to research and development, the highest proportion in the world. Technology is one of Israeli’s most developed sectors making up 7.1% of local GDP in 2012.
It is the most important industry from which Israeli UHNWIs have acquired their wealth. According to WealthInsight, tech is the primary source of wealth for 27% of local UHNWIs. Israeli’s high-technology products include aviation, communications, computer-aided design and manufactures, medical electronics, fibre optics.

In the US technology is one of the "high wage" sectors together with the entertainment and aerospace industries. It is the fourth largest domestic sector accounting for 7.8% of local GDP in 2011. It is the primary source of wealth for 11.3% of US billionaires (48 billionaires).
Though the majority of New York billionaires have made their money through financial services, technology is the largest sector for billionaires in California counting 25 billionaires in total.
According to a recent report conducted by the Bay Area Council Economic Institute, the US hi-tech industries are projected to grow by 16.2% by 2020, compared to 13.1% for the rest of US industry.

The UK is home to over 100,000 specialist software houses, and is the world’s leading internet gateway with 36% of worldwide internet traffic routed through UK servers. WealthInsight reported that the UK IT market is expected to drive the creation of 2,500 new businesses and over 80,000 new jobs by 2013.
Technology is the fourth most important industry for UK HNWIs. 10.1% of UK HNWIs acquired their wealth from the technology sector.

Technology and software are among the top performing industries for HNWIs in China. According to WealthInsight database, technology generates 10.1% of Chinese UHNWIs. Beijing, Guangdong and Shanghai are the three regions with the highest number of UHNWIs who have acquired their wealth in technology and software. Beijing has become a centre for the technology and software industry.
According to WealthInsight’s forecasts, 25% of Chinese HNWIs will have generated their wealth from technology and software by 2015. The growth in the technology and software sector will be based on large growth in e-commerce and internet-based businesses, as well as further increases in local sales of computers and related products.

UHNWIs acquiring their wealth in the Indian technology and software sectors saw a significant growth in their volume of more than 50% between 2007 and 2011.

However, technology and software industry is not the dominant HNWI wealth-creating industries in the country. In 2011 technology was the primary source of wealth for 7.5% of Indian HNWIs and 7.7% of UHNWIs. Mumbai, Delhi and New Delhi, and the technology and software centres of Bangalore and Hyderabad are among the key economic engines of India’s HNWIs

The tech sector was a strong performer in the past 12 months contributing $67.2bn to GDP. In 2012 technology was the primary source of wealth for 6.3% of Canadian HNWI with their volume increasing by 10% between 2007 and 2012, according to WealthInsight. The wealth consultancy also found that the younger generation of wealthy clients, the Y rather than next generation, represents a core client group which is creating its wealth from technology. In terms of best performing cities for the sector, Ottawa is considered to be the "Silicon Valley of the North" as it boasts a large hi-tech sector. Vancouver is also an increasingly important centre for technology especially in software development and biotechnology. With the recovery of US economy and weakness in the Canadian dollar, exports have also been the main drivers for technology sector’s growth.

Sign up for our daily news round-up!

Give your business an edge with our leading industry insights.

Sign up