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Wealth Report Asia 2012

Following on from the inaugural report in 2011, the 2012 Julius Baer Wealth Report again focuses on Asia and provides a comprehensive and exclusive analysis of the HNWI landscape in the region. Furthermore, it takes a closer look at three key economies creating wealth in Asia: China, India, and Indonesia. The Julius Baer Lifestyle Index has been up 8.8% since last year.

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Although the global macroeconomic backdrop has become more challenging, Asia has remained resilient thanks to strong fiscal fundamentals, improved economic policy making and greater diversification of trade links. Domestic demand, supported by robust job growth, remains a key pillar to Asia’s growth dynamics. The original forecasts have been re-examined against the deterioration in global growth, and the report concludes that the downside risk to Asia’s growth in HNWls is small.

Benefiting from Julius Baer’s strong on-the-ground presence in Asia, the report examines the drivers of wealth creation in ten of the most significant economies and provides a break out of three key economies creating wealth in Asia: China, India and Indonesia. In addition to the macro analysis of these economies, local CEOs describe what drives wealth creation from the ground up. Taking a multi-dimensional view of wealth, and also looking at what it costs to live in luxury, makes the report a much more robust appraisal of the wealth dynamics in Asia.

Julius Baer Lifestyle Index rose 8.8% in 2012
Based on a basket of 20 luxury goods and services that represent discretionary purchases of HNWIs in the region, the index covers high-end vendors across four main cities: Hong Kong, Shanghai, Singapore, and Mumbai. The fact that the Index continues to rise, up 8.8% this year for the one-year period until April 2012, shows clearly that the cost of living in luxury in Asia continues to substantially outpace conventional Consumer Price Index (CPI) measures, which stood at approximately 6% for the same time period. The Julius Baer Lifestyle Index can provide investors with direction in terms of future investment returns required, all else being equal, to finance a certain lifestyle as well as an indication of the underlying inflation.