-The number of ultra-rich people in Vietnam with a net worth of over 30 million USD is set to pass 1,500 by 2026, a 26% increase from last year, according to the latest annual Wealth Report released by UK property consultancy Knight Frank.
The report indicates by 2026 the country is expected to have 1,551 ultra-high net worth individuals (UHNWIs), compared to 1,234 last year.
Meanwhile, Knight Frank anticipates that the number of rich people, or those with a net worth of 1 million USD or more, including their primary residence, is set to rise sharply by more than 59% by 2026 from 72,135 individuals last year.
The report also notes a marked trend in terms of spending by ultra-rich and rich people on items such as watches and wine. Statistics show watch imports rose 28.2% annually in the 2016 to 2020 period, despite the impact of COVID-19.
Meanwhile, car sales and wine imports consistently maintained positive growth of 12.9% and 9.8%, respectively, between 2016 and 2019.
Source: VOV5