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The Global HNW Expat Market

  • March 2014
  • 50 pages
  • GlobalData
Report ID: 3375778

Summary

Summary
Be it for lifestyle, work, retirement, or tax efficiency reasons, more and more HNW individuals are leaving their home countries to start a new life abroad. Verdict Financial estimates that expats constitute 12% of HNW individuals globally. This represents a significant customer segment and opportunity for wealth managers to target a desirable group with tailored product suites.


Synopsis
- Analyze the HNW expat market in 24 global wealth markets including Australia, the UK, Singapore, the UAE, and the US.
- Understand how to target HNW expats most effectively.
- Gain a better understand of HNW expats' reasons for migrating to another country.
- Understand best-practice examples from competitors within the HNW expat market.

Reasons To Buy
- What is the size and composition of the global HNW expat market, and how should it be targeted?
- Which destination countries are most popular among HNW expats and why?
- What are the motivations behind HNW individuals relocating to another country?
- How does product provision differ between different countries in the HNW expat space?

Key Highlights
Constituting 19% of the global HNW expat population or almost 190,000 individuals, non-resident Indians represent a particularly lucrative target market. However, wealth managers need to be aware that, while sharing the same background, NRIs are not necessarily a homogenous segment, and require different onboarding strategies.

HNW expats' choice of destination mostly depends on their motivation to emigrate. Globally, business start-ups represent the most common reasons, suggesting that wealth managers need to be able to assist their clients during the start-up phase.

Being able to provide auxiliary services represents an effective means to reach out to new clients. For example, HNW individuals are likely to seek professional help when moving to a new country. If a bank is able to provide such a service, there is a huge opportunity to pick up new business.

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