UBS report: the average wealth of adults in Hong Kong last year was approximately 4.7 million Hong Kong dollars, ranking third in the world.

UBS's latest "Global Wealth Report 2025" points out that global personal wealth further increased last year, with an increase of 4.6% in US dollars, up 0.4 percentage points from 4.2% in 2023. The growth was mainly driven by Central Europe and North America, with Switzerland having the highest per capita wealth, followed by the United States, and Hong Kong ranking third, reaching 601,195 yuan (US dollars, equivalent to about 4.7 million Hong Kong dollars). Global wealth increased by 4.6% last year. The report also predicts that the average wealth of adults globally will continue to grow over the next 5 years, mainly driven by North America and Greater China. UBS's Global Wealth Report mainly focuses on analyzing data from 56 markets, estimating that these markets represent approximately 92% of global wealth. Taking into account population-size weighted averages, personal wealth in Central Europe increased by 12.01% annually in 2024, followed by North America with an increase of 11.98%. The strong growth in North America's wealth last year was mainly driven by the stable US dollar and active financial markets. During the period, the Middle East and Africa grew by 4.23%, Greater China by 3.42%, higher than Southeast Asia's 2.67% increase. Western Europe, Oceania, and Latin America saw a decrease in wealth, with declines of 1.48%, 1.54%, and 4.28% respectively. The number of millionaires increased by over 680,000 last year The report also points out that the number of new millionaires (in US dollars) last year exceeded 680,000, with an annual increase of 1.2%. It is expected that the number of millionaires in most markets will continue to grow, reaching an estimated 5.34 million new millionaires globally by 2029. Last year, the United States had the highest number of millionaires, with over 23.83 million people, followed by China with 6.327 million. Taiwan, China had nearly 760,000 millionaires, while Hong Kong accounted for 647,000 millionaires, approximately one millionaire for every 10 adults. Singapore had 331,000 millionaires. In terms of per capita wealth, Hong Kong's average wealth and median wealth per adult population, adjusted for inflation, increased by 1.5% and 2.11% respectively last year. Average wealth growth often reflects trends in the higher wealth class, while median wealth growth typically reflects changes in the middle wealth class. Hong Kong's per capita wealth for adults last year was 601,195 yuan, ranking third, behind Switzerland's 687,166 yuan and the United States' 620,654 yuan. In terms of median wealth, the median wealth per adult in Hong Kong was 222,015 yuan, ranking fourth, behind Luxembourg, Australia, and Belgium. More than two-thirds of Hong Kong's personal total wealth is in financial assets, similar to the cases in the United States, Japan, Switzerland, and Singapore.