BCG: India to add $2tn by 2030, top emerging-market wealth
India is set to become the top emerging market for financial wealth, adding more than $2 trillion by 2030, outpacing Brazil and Mexico combined, according to a new BCG report.
The country's high-net-worth crowd across India, Brazil, and Mexico is growing fast at 8% each year, and over 1 million new dollar millionaires are expected by the end of the decade.
Emerging markets excluding China add $12tn
Emerging markets (excluding China) will contribute about $12 trillion to global wealth growth by 2030.
Still, many wealthy people keep their money in low-yield bank accounts and don't have access to advanced investment options yet.
Meanwhile, Asia-Pacific's financial scene is shifting: Hong Kong has overtaken Switzerland as the world's biggest cross-border wealth hub, highlighting Asia's rising influence on global money flows.