Fortunes Grow For Ultra Wealthy In Core Europe Despite Tough Economic Conditions

News provided by

Wealth-X

27 Jun, 2013, 12:00 GMT

- German cities dominate the top 10 list of largest UHNW populations in FIGS countries

LUGANO, Switzerland, June 27, 2013 /PRNewswire/ -- Despite challenging global economic conditions, the ultra wealthy in France, Italy, Germany and Switzerland (FIGS) are getting wealthier and growing in number. These are the findings released by Wealth-X, the ultra high net worth (UHNW) business development solution for global private banks, luxury brands, educational institutions and non-profits.

The report also shows that the FIGS countries are home to more than 29,000 UHNW individuals, as of June 2013, with a combined wealth of nearly US$3.9 trillion. This is greater than the GDP of any of the world's economies, except the United States, China and Japan.

The table shows the increase in population and fortunes of the ultra wealthy in these countries in 2013.



2013

2012

Region

UHNW Population

Total Wealth
US$ Billion

UHNW Population

Total Wealth
US$ Billion

Population Change %

Total Wealth Change %

Germany

16,734

2,329

15,770

2,050

6%

14%

Switzerland

5,954

752

5,595

655

6%

15%

France

4,305

530

4,100

475

5%

12%

Italy

2,015

240

1,940

220

3%

9%

Total

29,008

3,851

27,405

3,400

6%

13%

Six German cities make it to the list of the top 10 FIGS cities, suggesting the relative resilience of Germany's economy despite difficult economic conditions. The country's UHNW population (15,770 individuals) far exceeds even China (11,245 individuals) in 2012/2013, according to Wealth-X data.

Among the FIGS economies, Wealth-X data shows that Paris has the largest concentration of UHNW individuals in France, while Geneva has the highest density among the top 10 FIGS cities.

"The ultra wealthy in these countries continue to create more wealth and grow in number during these challenging times, testament to their smart investment strategies," said Mykolas Rambus, CEO of Wealth-X. "This special report explores the changing demographics and growing wealth of the ultra affluent, invaluable for those in the financial services, philanthropy and luxury sectors."

About Wealth-X

Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally. The firm's Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in all major financial centers.

For the full report, visit http://www.wealthx.com/articles/2013/france-italy-germany-switzerlands-ultra-wealthy-grow-their-fortunes/

For more information about Wealth-X, please visit: www.wealthx.com