Global property consultancy group Knight Frank has published its 2022 Wealth Report, showing how wealth is set to grow in countries around the world over the next five years.
The report shows South Africa has seen a significant decline in Ultra-high-net-worth individuals over the last year – a trend that stands in contrast to much of the rest of the world
The report shows that the number of UHNWIs in South Africa declined by -7% over the last year – from 603 in 2020 to 561 in 2021 – more than any other country on the ranking. This figure is expected to remain flat over the next five years, dropping to 559 UHNWIs by 2026. “The savings amassed during 2020 have enabled significant investment upside over the past 12 months. Access to technology and the digital democratisation of investments, including private equity, have led to greater levels of wealth creation and growth. This is something that will gain momentum over the coming years,” Knight Frank said.
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