Colombo, Ho Chi Minh City to see a 160% growth in super rich class | Daily News

Colombo, Ho Chi Minh City to see a 160% growth in super rich class

The 2016 Wealth Report by Knight Frank, a UK based property consultancy has rated both Colombo and Vietnam’s Ho Chi Minh City, to see a 160% growth in the super rich class (with more than 30 million dollars (Rs 45bn) in personal wealth over the next decade.

Both cities however were growing from a relatively small base.

The report said that Sri Lanka had 3,400 dollar millionaires, 170 multi-millionaires (more than 10 million dollars) and 70 ultra high net worth individuals (UHNWIS) with more than 30 million dollars.

Personal wealth is measured by liquid assets such as land, homes and stocks.

However though Nepal had Binod Chaudarey Sri Lanka has not seen any billionaires listed in the report.

Only Ho Chi Minh City in Vietnam was expected to grow faster than Colombo, at 170 percent with 30 million dollar plus individuals growing to 243 by 2026, from 90 individuals in 2016.

India’s Hyderabad which had 260 ultra high net worth individuals will also see a 160 percent growth to 676.

Mumbai which had high property prices would see a 150 percent growth in super rich to 3,350 in ten years. Shanghai in China would see the super rich growing 150 percent to 6,450individuals from the current 6,450. 


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