Market Research Report
Seizing the Global HNW Expat Opportunity
|Published by||GlobalData||Product code||633380|
|Published||Content info||57 Pages
|Seizing the Global HNW Expat Opportunity|
|Published: April 30, 2018||Content info: 57 Pages||
With increased global mobility, the global expat market has been growing rapidly. Be it for lifestyle, work, retirement, or tax-efficiencyreasons, more and more HNW individuals are leaving their home countries to start a new life abroad. Expats constitute over 11% of the global HNW population, equating to around 1.2 million individuals. This represents a sizable (albeit competitive) target market for wealth managers to target a desirable but highly competitive group with tailored product suites.
The US is home to the largest expat market when considering number of individuals (around 170,000). However, it is in the UAE, Singapore, and Hong Kong where expats constitute the largest proportion of the resident HNW population and where competition is thus the fiercest.
Looking at origins, HNW expats from Greater China and the Indian subcontinent make for the largest target markets, closely followed by HNW expats from the US and the UK. Service requirements can differ significantly between these diasporas, justifying the formation of dedicated desks reaching out to specific client groups.
Wealth managers with international operations are at an advantage, as they are able to start relationships pre-departure, but external referrals and focused targeting strategies will prove successful for locally-oriented players.
The research report "Seizing the Global HNW Expat Opportunity", sizes and analyzes the global HNW opportunity, and provides detailed recommendations on how to best target and service this segment. The report is based on GlobalData's proprietary Global Wealth Managers Survey.
Key findings included in the report -
Specifically this report -
Companies Mentioned: Amaroo, Bank of China, N26 Bank, Abu Dhabi Commercial Bank, Emirates NBD, Arab Bank, HSBC, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak, Axis, IDBI Bank, United Bank of India, Bank of Baroda, Deutsche Bank, Standard Chartered, Citi, Westpac, Aldermore, Credit Suisse, Lloyds Bank, HR Blocks