The RBC/Capgemini report estimated the number of Asia-Pacific HNWIs rose 1.6% to 3.37m in 2011 – which was twice the global HNWI growth rate.
However, there are some surprising regional results which have led to uneven growth in Asia-Pacific.
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The key change was that the previous front runners, India and Hong Kong, suffered serious slumps.
WealthInsight analyst Andrew Amoils said: "Indonesia’s strong performance came as little surprise as it has been the stand out country for HNWI growth for a few years now.
"We expect Indonesia to be the top performing country in the region over the next five years with HNWI growth of over 18% per annum up until 2016."
India & HK slumps
The report said that India lost 18% of its HNWIs in 2011, while Hong Kong lost 17.4%.
The research suggests that these losses could be attributed to sliding equity indices from 31 December 2010 – 31 December 2011.
India equity prices dropped a staggering 38% while Hong Kong’s dropped by 18.4%. The two countries had led HNWI growth for the previous two years.
SE Asia going strong
Thailand’s HNWIs rose the most in the region at 12.8% in 2011, with Indonesia and China showing solid growth at 8.2% and 5.2% respectively.
Indonesia recorded positive equity indices growth from 2010 – 2011 at 31.2%, although China’s indices dropped by 20.3%.
Source: Private Banker International
