Wealth-X Presents 8 Predictions For The Chinese Lunar New Year Of The Goat

NEW YORK, Feb. 15, 2015 /PRNewswire/ -- With the Chinese Year of the Goat set to begin on 19 February 2015, Wealth-X presents eight predictions for the ultra high net worth (UHNW) population in China for the coming year:

• Social mobility will drive an increase in China's UHNW population in the lowest wealth tiers;
• UHNW wealth is expected to grow at a faster rate than the Chinese UHNW population, with an additional US$80 billion of wealth being created during the year;
• Flows of UHNW wealth outside of China will increase, with 5% more of UHNW assets held in foreign businesses;
• Tier 1 cities will increase in relevance with 60% of China's UHNW population calling the four cities of Beijing, Shanghai, Shenzhen and Guangzhou home by the end of the year;
• Public wealth is expected to grow faster than private wealth in China with an additional US$45 billion held in public companies;
• Luxury spending in China will decrease by 4% due to the government's anti-corruption crackdown;
• Chinese philanthropy will increase this year, with a 24% rise in the number of private foundations established;
• The number of UHNW expatriates in China will increase by 40% over the course of the year.

The Goat is the eighth zodiac sign in the 12-symbol Chinese horoscope. Wealth-X data shows that 8.4% of the world's UHNW population was born in the year of the Goat - making it the fourth most common Chinese Zodiac sign for UHNW individuals. Goat UHNW individuals have the lowest proportion of fully self-made UHNW individuals and these individuals are 10% wealthier than the global average for UHNW individuals.

Although only six percent of all Goat UHNW individuals are involved in the technology sector, the most prominent Goat UHNW individual is technopreneur Bill Gates, the world's richest man, who was born in 1955, another year of the Goat.

Download the white paper at www.wealthx.com/wp-content/uploads/2015/02/Wealth-X-8-Predictions-For-The-Year-Of-The-Goat.pdf

About Wealth-X
 
Wealth-X is the world's leading ultra high net worth (UHNW) intelligence and prospecting firm with the largest collection of curated research on UHNW individuals, defined as those with net assets of US$30 million and above. The firm's Wealth-X Professional solution is the standard for banking, luxury marketing and not-for-profit professionals working with the ultra affluent. Headquartered in Singapore, Wealth-X has 13 offices across five continents. (www.wealthx.com)

SOURCE Wealth-X

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