Dallas, Texas (PRWEB) May 19, 2013
In 2012, there were just over 74,700 HNWIs in Israel with a combined wealth of US$362 billion which equates to 63% of the total individual wealth held in the country. Israeli HNWI volumes rose by 13.2% thereby outperforming worldwide HNWI average which decreased by 0.3% between 2007 and 2012. In 2012 alone, Israeli HNWI numbers rose by 9.3% which followed a drop of 8.7% in 2011.
At 144%, Israel has a relatively high HNWI wealth-to-GDP ratio when compared to the worldwide average if 108%. This, along with Israel’s high HNWI-wealth-to-total-individual-wealth ratio (63%), limits potential HNWI growth going forward.
In 2012, business interests were the largest asset class for HNWIs in Israel (26% of total HNWI assets), followed by equities (25.5%), real estate (18.3%), fixed income (13.3%), cash (10.3%) and alternatives (6.6%). Real estate recorded the strongest growth between 2007 and 2012, driven by strong value growth in the local resident market.
In 2012, there were just over 73,000 core millionaires in Israel, with a combined wealth of US$205 billion and an average wealth of US$2.8 million. During the review period, the number of core HNWIs increased by 13.1% from 64,800 in 2007 to 73,286 in 2012. This growth rate is below that recorded by local UHNWIs (18.6%).
There are currently 1,437 UHNWIs in Israel, with an average of US$109 million per person. Of this total, there are 17 billionaires, 197 centi-millionaires and 1223 affluent millionaires as of year-end 2012. UHNWIs account for 1.9% of the total HNWI population of Israel, which is well above the global average of 0.7%. There was a wide range of performance between the different UHNWI wealth bands. The number of billionaires increased by 89%, while the number of centi-millionaires and affluent millionaires rose by 24% and 17% respectively.
Key Highlights of Israel 2013 Wealth Book: Trends in Millionaire Wealth:
- There were just over 74,700 HNWIs in Israel in 2012. These HNWIs hold US$362 billion in wealth which equates to 63% of total individual wealth held in the country.
- Israeli HNWIs outperformed the worldwide HNWI average during the review period – worldwide HNWI volumes decreased by 0.3% whilst Israeli HNWI numbers rose by 13.2%.
- At the end of 2012, Israeli HNWIs held 26% (US$94 billion) of their wealth outside their home country, which is in line with the worldwide norm of between 20% and 30%.
- There are 1,437 UHNWIs in Israel, with an average wealth of US$109 million per person. Of this total, there are 17 billionaires, 197 centimillionaires and 1,223 affluent millionaires as of year-end 2012.
- Tel Aviv is the largest city for Israeli millionaires, accounting for 35% of total UHNWIs with just over 500 individuals. There are also sizable HNWI populations in Herzliya (286 UHNWIs) and Jerusalem (210 UHNWIs).
- The WealthInsight Intelligence Center Database 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
- The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market
- With the Database 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 2017
- The report also provides detailed information on UHNWIs in each major city
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