The number of billionaires in Thailand has jumped six places in the past 12 months, according to a new global report by Wealth-X and UBS.
According to the report, Thailand now has 17 US$ billionaires with a combined wealth of US$56 billion. One year ago there were just 10 billionaires in Thailand with US$25 billion in combined wealth. The six place jump in one-year now ranks the Thai capital as the 29th Home for Billionaires, and the 10th in Asia, according to the report.
Commenting on Asia, the report noted: “Asia’s billionaire population and wealth are more densely concentrated than in Europe and North America. A total of 66 percent of Asia’s billionaire wealth is in the region’s top ten billionaire cities, and 55 percent of billionaires are based there.
“This is indicative of various obstacles and barriers outside of the region’s main hubs.
“Non-Asian billionaires are also looking to tap into the region’s potential. For example, 26 billionaires whoare not based in Hong Kong own property in the city. Hong Kong is seen by many billionaires as an ideal location to set up a strategic base, as it gives them access to the large markets of China and Southeast Asia.
“As Asia’s economic may continue to grow, we expect to see an increasing number of non-Asian billionaires establishing a presence in the region, thereby further increasing the number of billionaires based there.
“However, the diversity within Asia’s economies – from Japan’s stagnation to China’s growth and the mixed performance of Southeast Asian markets – will continue to exist. This was clearly reflected in the growth in the region’s billionaire population and wealth over the last year.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
