The number of HNW individuals in Europe reached 2.27 million in 2022
The indicator recorded a historical growth (CAGR) of 4.13% between 2019 and 2022, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Number of HNW individuals in Europe recorded a single-digit YoY decline in 2020
Number of HNW individuals in Europe recorded a significant growth between 2017-2019, followed by a single-digit YoY decline in 2020.
A key focus for most wealth providers, HNW entrepreneurs constitute the second-largest target segment (after professionals), followed by females and expats, who represent an almost equally large target market. Inheritors are the smallest segment; however, providers reaching out to female inheritors should not encounter any trouble growing their business given that this segment is often overlooked.
While there is overlap between segments, distinct investment and servicing preferences call for a differentiated servicing strategy. For example, female HNW investors are more risk averse than other segments, but they tend to be comparatively loyal to their wealth manager. On the flipside, inheritors tend to be the least loyal, meaning early and ongoing engagement is critical.
In Europe, Germany impresses both proportion-wise and with sheer numbers
Germany is home to a significant expat population thanks to its reputation as a safe haven, a high standard of living, first-class universities, and an excellent healthcare system, all of which are a strong draw among the world’s rich. In fact, data from our 2020 Global Wealth Managers Survey shows that better lifestyle conditions are the single most important expatriation driver among those who migrated to Germany.
Job transfers come in a distant second but explain the dominance of HNW expats from Schengen area countries, given that citizens from EU and Schengen agreement countries do not require visas. Nationals from other countries can apply for a residence permit for the purpose of self-employment. This category of permit has been created to facilitate investment into the country by foreign investors. In order to obtain the visa there is an assessment of the viability of the business idea, the entrepreneur’s previous experience, the level of capital investment, as well as the employment effects and contribution towards innovation and research. The residence permit is granted for a maximum of three years, after which an unlimited settlement permit can be issued if the applicant has adequate income and has successfully carried out the planned activity.
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
United States of America
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer