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Ultra HNWIs in Turkey 2014

  • October 2014
  • -
  • WealthInsight
  • -
  • 109 pages

Synopsis

• This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Turkey.
• The report focuses on HNWI performance between the end of 2008 (the peak before the global financial crisis) and the end of 2013. This enables us to determine how well the country's UHNWIs have performed through the crisis.

Summary

This report reviews the performance and asset allocations of Ultra HNWIs in Turkey, and highlights top-performing cities. It also includes an evaluation of the local wealth management industry.

Scope

• UHNWI volume, wealth and allocation trends from 2009 to 2013
• UHNWI volume, wealth and allocation forecasts to 2018
• UHNWI asset allocations across 13 asset classes
• Number of UHNWIs in each state and all major cities
• Fastest growing cities and states for UHNWIs (2009-2013)
• Number of wealth managers in each city
• City wise ratings of wealth management saturation and potential
• Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Turkey
• Size of Turkey wealth management industry
• Largest domestic private banks by AuM
• Detailed wealth management and family office information
• Insights into the drivers of HNWI wealth

Reasons To Buy

• The Ultra HNWIs in Turkey 2014 is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
• With the wealth reports as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
• Report includes comprehensive forecasts to 2018.
• Also provides detailed information on UHNWIs in each major city.

Key Highlights

• There were 1,903 UHNWIs in Turkey in 2013, with an average per capita wealth of US$122.8 million, making them the prime target group for wealth sector professionals. Of this total, there were 41 billionaires, 466 centimillionaires and 1,397 affluent millionaires.
• UHNWIs accounted for 2.1% of the total HNWI population of Turkey in 2013, higher than the global average of 0.7%. During the review period, the number of UHNWIs in Turkey increased by 69.9%, from 1,120 in 2009 to 1,903 in 2013.
• There was a wide range of performance between the different UHNWI wealth bands; the number of billionaires increased by 272.7%, while the number of centimillionaires and affluent millionaires increased by 73.2% and 66.3% respectively.
• WealthInsight expects the number of UHNWIs to increase by 15.1%, to reach 2,264 in 2018. This will include 52 billionaires, 558 centimillionaires and 1,655 affluent millionaires.

Table Of Contents

Ultra HNWIs in Turkey 2014
Table of Contents
1 INTRODUCTION
1.1 Details of this Report
1.2 Definitions
2 EXECUTIVE SUMMARY
3 WEALTH SECTOR FUNDAMENTALS
3.1 Political Background
3.2 Economic Background
3.3 Social Background
3.4 Benchmarking Turkey's Wealth in Context
3.4.1 Distribution of wealth in Turkey
3.5 HNWI Volume and Wealth Trends
4 FINDINGS FROM THE WEALTHINSIGHT HNWI DATABASE
4.1 Trends in HNWI Wealth to 2018
4.1.1 HNWI trend analysis
4.1.2 Trends of the wealth bands
4.1.3 Demographic breakdown of HNWIs
4.1.4 HNWIs - job titles
4.1.5 HNWIs - industry breakdown
4.1.6 HNWIs - industry performance
4.1.7 HNWIs - breakdown by city
4.1.8 HNWIs - city performance
4.1.9 HNWIs - city population densities
4.1.10 HNWIs - city forecasts
4.1.11 HNWIs - breakdown by state
4.1.12 HNWIs - state performance
4.1.13 HNWIs - state population densities
4.2 UHNWIs
4.2.1 UHNWI volume trend analysis
4.2.2 UHNWI wealth trend analysis
4.2.3 Demographic breakdown of UHNWIs
4.2.4 UHNWIs - industry breakdown
4.2.5 UHNWIs - city breakdown and performance
4.3 UHNWIs - Billionaires
4.3.1 Billionaire volume trend analysis
4.3.2 Billionaire wealth trend analysis
4.3.3 Billionaire per capita net worth trend analysis
4.3.4 List of billionaires
4.4 UHNWIs - Centimillionaires
4.4.1 Centimillionaire volume trend analysis
4.4.2 Centimillionaire wealth trend analysis
4.4.3 Centimillionaire per capita net worth trend analysis
4.5 UHNWIs - Affluent Millionaires
4.5.1 Affluent millionaire volume trend analysis
4.5.2 Affluent millionaire wealth trend analysis
4.5.3 Affluent millionaire per capita net worth trend analysis
4.6 Core HNWIs
4.6.1 Core HNWI volume trend analysis
4.7 Core HNWIs - Mid-Tier Millionaires
4.7.1 Mid-tier millionaire volume trend analysis
4.7.2 Mid-tier millionaire wealth trend analysis
4.7.3 Mid-tier millionaire per capita net worth trend analysis
4.8 Core HNWIs - Lower-Tier Millionaires
4.8.1 Lower-tier millionaire volume trend analysis
4.8.2 Lower-tier millionaire wealth trend analysis
4.8.3 Lower-tier millionaire per capita net worth trend analysis
5 ANALYSIS OF TURKISH HNWI INVESTMENTS
5.1 Analysis by Asset Class
5.1.1 Trends in alternative assets
5.1.2 Trends in 'art, wine and wheels'
5.1.3 Trends of investment in real estate
5.1.4 Trends of investment in cash and deposits
5.1.5 Trends of investment in fixed-income
5.1.6 Trends of investment in equity
5.1.7 Trends of investment in business interests
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe
5.2.2 Investments in North America (including the US, Mexico and the Caribbean)
5.2.3 Investments in Asia-Pacific
5.2.4 Investments in Central and South America
5.2.5 Investments in the Middle East
5.2.6 Investments in Africa
5.3 Alternative Breakdown: Liquid vs. Investable Assets
5.4 Analysis of Turkish UHNWI Investments
6 COMPETITIVE LANDSCAPE OF THE WEALTH SECTOR
6.1 Competitive Landscape
6.1.1 Domestic banks
6.1.2 Foreign Private Banks
6.1.3 Wealth managers
6.1.4 Family offices
6.1.5 Financial advisors
6.2 Developments in the Turkish Private Banking Industry
6.3 Turkish Wealth Management Industry - Clientele Model and Maturity
6.4 Behavioral Mapping of Wealth Management and Private Banking in Turkey
7 APPENDIX
7.1 Regulations on Taxes
7.2 Key Drivers
7.2.1 TRY to US$ exchange rate
7.2.2 Real GDP growth
7.2.3 Per capita GDP
7.2.4 Domestic market capitalization
7.2.5 Commodity index
7.2.6 Foreign direct investments (FDI) - inflows and outflows
7.2.7 Inflation rate
7.2.8 Interest rate
7.2.9 Balance of payments
7.2.10 Government debt
7.2.11 Stock market performance
7.3 Wealth Breakdowns
8 ABOUT WEALTHINSIGHT

List of Tables

Table 1: HNWI Wealth Band and Group Definitions
Table 2: Turkish Population Volume of Key Cities (Million), 2013
Table 3: Turkish HNWIs - Volume Distribution (%), 2013
Table 4: Turkish HNWIs - Wealth Distribution Wealth Pyramid (%), 2013
Table 5: Turkish HNWIs - Industry Performance (%), 2009-2013
Table 6: Turkish HNWIs - Populations in Cities and Percentage of HNWIs, 2013
Table 7: Turkish HNWIs - Growth in Top Cities (Thousand), 2009-2013
Table 8:Turkish HNWIs - Population Density in Major Cities (Thousand), 2013
Table 9: Turkish HNWIs Population in Top Cities (Thousand), 2009-2018
Table 10: Turkish HNWIs - Growth Rates for Top Cities (%), 2009-2018
Table 11: Turkish HNWIs -Population by State (Thousand), 2013
Table 12: Turkish HNWIs - Population and State Growth Data, (%) 2009-2013
Table 13: Turkish HNWIs - Population Density by State (%), 2013
Table 14: Turkish UHNWIs - Gender Performance, 2009-2013
Table 15: Turkish UHNWIs - Sources of Wealth (%), 2013
Table 16: Turkish UHNWIs in Top Cities, 2009-2018
Table 17: Turkish UHNWIs Growth Rates for Top Cities (Thousand), 2009-2018
Table 18: Turkish Billionaires - Market Overview (US$ Billion) 2009-2018
Table 19: Turkish Top-10 Billionaires (US$ Billion), 2013
Table 20: Turkish Billionaire Wealth Growth (US$), 2009?2013
Table 21: Turkish Centimillionaires - Market Overview (US$), 2009-2018
Table 22: Turkish Affluent Millionaires - Market Overview (US$), 2009-2018
Table 23: Turkish Mid-Tier Millionaires - Market Overview (US$), 2009-2018
Table 24: Turkish Lower-Tier Millionaires - Market Overview (US$), 2009-2018
Table 25: Turkish Allocations of HNWI Assets (%), 2009-2018
Table 26: Turkish HNWIs ? Holdings Growth (%), 2009-2018
Table 27: Turkish HNWIs - Alternative Asset Composition (%), 2009-2018
Table 28: Turkish HNWIs - Trends of Investments in Alternative Assets (%), 2009-2018
Table 29: Turkish Trends in ‘Art, Wine and Wheels', 2009-2013
Table 30: Global Prime Real Estate Prices per m2 (US$), 2014
Table 31: Turkish HNWIs - Percentage of Foreign Investment Allocations (%), 2009-2018
Table 32: Turkish HNWIs - Liquidity Breakdown (US$ Billion), 2009-2018
Table 33: Turkish HNWIs - Liquidity Breakdown (%), 2009-2018
Table 34: Turkish UHNWIs - Allocations and Share of HNWI Assets, 2013
Table 35: Turkish Leading Domestic Private Banks, 2013
Table 36: Turkish Leading Foreign Private Banks, 2013
Table 37: Turkish Wealth Managers, 2013
Table 38: Turkish Family Offices, 2013
Table 39: Turkish Wealth Management Industry - Recent Deal Activity, 2013
Table 40: Turkish Income Tax Bands (TRY), 2012-2013
Table 41: Turkish Exchange Rate -TRY to US$, 2009-2018
Table 42: Turkish Real GDP Growth (%), 2009-2018
Table 43: Turkish GDP Per Capita (US$), 2009-2018
Table 44: Turkish Domestic Market Capitalization (US$ Billion), 2009-2013
Table 45: Turkish Commodity Indices, 2009-2018
Table 46: Turkish Foreign Direct Investments (US$ Billion), 2009-2018
Table 47: Turkish Inflation Rate (%), 2009-2018
Table 48: Turkish Money Market Rate (%), 2009-2018
Table 49: Turkish Balance of Payments (US$ Billion), 2009-2013
Table 50: Turkish Government Debt as a Percentage of GDP (%), 2009-2018
Table 51: Turkish Stock Market Performance (Index), 2009-2013
Table 52: Turkish HNWI Wealth vs. GDP Ratio (%), 2009-2018
Table 53: Turkey- Appendix One
Table 54: Turkey - Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of Turkey
Figure 3: Turkish Asset Price Performance (US$), 2009-2013
Figure 4: Turkish HNWI Performance, (US$), 2009-2018
Figure 5: Turkey vs. Global HNWIs in Terms of Volume and GDP per Capita Growth (US$), 2009-2013
Figure 6: Turkish HNWIs - Growth Factor Correlation (Index), 2009-2013
Figure 7: Turkish HNWIs - Volume Distribution Wealth Pyramid (%), 2013
Figure 8: Turkish HNWIs - Wealth Distribution Wealth Pyramid (%), 2013
Figure 9: Turkish HNWIs - Age Distribution, 2013
Figure 10: Turkish HNWIs - Job Titles, 2009-2013
Figure 11: Turkish HNWIs - Distribution by Industry (%), 2013
Figure 12: Turkish HNWIs - City Performance (Thousand), 2009-2013
Figure 13: Turkish HNWIs - City Population Volumes (Thousand), 2009-2013
Figure 14: Turkish HNWIs - City Forecasts (Thousand), 2014-2018
Figure 15: Turkish HNWIs - City Population Volumes (Thousand), 2014-2018
Figure 16: Turkish UHNWIs - Wealth Share vs. Volume Growth (%), 2009-2013
Figure 17: Turkish UHNWIs - Volume by Wealth Band (Thousand), 2009-2018
Figure 18: Turkish UHNWIs - Wealth by Wealth Band (US$ Billion), 2009-2018
Figure 19: Turkish UHNWIs - Age Distribution (Percentage Share), 2013
Figure 20: Turkish UHNWIs - Distribution by Industry, 2013
Figure 21: Turkish Billionaires - Market Overview (US$), 2009-2018
Figure 22: Turkish Centimillionaires - Market Overview (US$), 2009-2018
Figure 23: Turkish Affluent Millionaires - Market Overview (US$), 2009-2018
Figure 24: Turkish Mid-Tier Millionaires - Market Overview (US$), 2009-2018
Figure 25: Turkish Lower-Tier Millionaires - Market Overview (US$), 2009-2018
Figure 26: Turkish HNWIs - Asset Class Composition (%), 2009-2018
Figure 27: Turkish HNWIs - Trends in Alternative Assets (US$ Billion), 2009-2018
Figure 28: Turkish Trends in ‘Art, Wine and Wheels', 2009-2013
Figure 29: Turkish HNWIs - Foreign Investment Allocation and Growth (%), 2013
Figure 30: Turkish HNWIs - Global Distribution of Foreign Investments (%), 2009-2018
Figure 31: Turkish HNWIs - Liquidity Breakdown (%), 2009-2018
Figure 32: Turkish UHNWIs - Asset Class Composition (%), 2009-2018
Figure 33: Turkish Wealth Management Industry - Maturity Level of Operators
Figure 34: Turkish Wealth Management Industry - Behavioral Mapping, 2013
Figure 35: Turkish Exchange Rate - TRY to US$, 2009-2018
Figure 36: Turkish Real GDP Growth (%), 2009-2018
Figure 37: Turkish GDP Per Capita (US$), 2009-2018
Figure 38: Turkish Domestic Market Capitalization (US$ Billion), 2009-2013
Figure 39:Turkish Commodity Indices, 2009-2018
Figure 40: Turkish Foreign Direct Investments (US$ Billion), 2009-2018
Figure 41: Turkish Inflation Rate (%), 2009-2018
Figure 42: Turkish Money Market Rate (%), 2009-2018
Figure 43: Turkish Balance of Payments (US$ Billion), 2009-2013
Figure 44: Turkish Government Debt as a Percentage of GDP (%), 2009-2018
Figure 45: Turkish Stock Market Performance (Index), 2009-2013
Figure 46: Turkish HNWI Wealth vs. GDP Ratio (%), 2009-2018
Figure 47: Turkish HNWIs - Volume by Wealth Band, 2009-2018
Figure 48: Turkish HNWIs - Wealth by Wealth Band (US$ Billion), 2009-2018
Figure 49: Turkish HNWIs - Wealth per Capita (US$ Million), 2009-2018

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