Asia will be home to almost 3 million high-paying people

Overall wealth will amount to USD16.7 trillion by 2015.

According to the second edition of the Julius Baer Wealth Report, the number of High Net Worth Individuals (HNWIs) in Asia may reach almost 3 million and have a stock of wealth equal to USD 16.7 trillion by 2015.

Here's more from Julius Baer Wealth Report:

Following on from the inaugural report in 2011, the 2012 Julius Baer Wealth Report recognises that the global macroeconomic backdrop has become more challenging; however, 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.  

Published as an annual study, the second edition of the Julius Baer Wealth Report continues to focus on Asia and provides a comprehensive and exclusive analysis of the HNWI landscape in the region. 

Stress-testing our assumptions made in the first Julius Baer Wealth Report on Asia, we reaffirm our original forecasts of the region being home to 2.8 million high net worth individuals by 2015.

Our cautiously designed ‘upside’ scenario could see that number rise to 2.96 million individuals, holding a combined stock of wealth equal to USD 16.7 trillion.

China, India and Indonesia are at the forefront of wealth creation in the region, with ongoing economic transformations likely to yield further surges in prosperity.