The world will have 43% more super-rich people by 2026

How rich is the Queen?
How rich is the Queen?

The number of super-rich individuals is slated to explode over the next decade, driven by a huge increase of wealth in Asia.

The annual Knight Frank Wealth Report forecasts the number of people with assets worth $30 million or more will grow by 43% over the next 10 years, far outstripping general population growth over the same period.

The report, based in part on research by New World Wealth, predicts that Asia's ultra-rich population will nearly double by 2026 to more than 88,000. China and India will see increases of 140% and 150%, respectively.

China's economy is expected to slow gradually over the decade, but its tech, media, entertainment, and health care sectors are expected to defy the trend and produce more super-rich businesspeople.

Vietnam will see the biggest percentage increase, with its small population of ultra-wealthy expected to grow by 170%.

Related: Will I ever be able to retire like my grandma?

North America is also expected to see strong growth, with its ultra-rich numbers swelling by 31% to nearly 96,000. The region is currently home to the largest population of wealthy individuals, a lead that it's expected to hold over the next decade.

Canada will see a 50% increase, "reflecting its growing status as a 'safe haven' from political upheaval," the report said.

Related: More millionaires are moving to Australia

The growing ranks of multi-millionaires aren't expected to merely keep their money in local banks.

The report found that, on average, the ultra-rich have 24% of their money invested in property (not including their first and second homes). Nearly one-third plan to invest in offshore real estate over the next two years.

Foreign money has in recent years caused a sharp increase in home prices in select cities in Canada, Australia, New Zealand and the U.K.

Mortgage & Savings


CNNMoney Sponsors