Synopsis This report is the result of WealthInsight’s extensive research covering the Non-Resident Indians (NRIs) population and the NRIs' wealth management market . Summary This report focuses on the Indian diaspora, which is the largest among non-resident South Asians. The report examines non-resident Indians (NRIS)’ investment attitudes and behavior, sources of wealth and demographics. It also includes market size and forecast data for NRIs from WealthInsight’s proprietary wealth model. Scope • Market size and forecast data for NRIs from WealthInsight’s proprietary wealth model. • Non-resident Indians (NRIs)’ investment attitudes and behavior, sources of wealth and demographics. • Key growth drivers of the wealth management market for NRIs, along with key market trends and growth opportunities. • NRIs’ investment trends and drivers, and the marketing and growth strategies adopted by various banks and wealth management service providers to increase their shares in the NRI wealth management sector. Reasons To Buy • 2020 Foresight: Non-Resident Indians by WealthInsight is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the report comprises a wide variety of data that is created based on over 125,000 HNWIs from around the world in our database. • With the wealth reports as the foundation for our research and analysis, we are able to obtain an unsurpassed level of granularity, insight and authority on NRIs and the wealth management universe in each of the countries and regions we cover. • The report examines the NRI population, the number of NRI millionaires, their wealth, demographic breakdown, industry breakdown, remittances. It also looks at NRI investment trends and drivers. • The report provides a thorough analysis of the private banking and wealth management sector for NRI millionaires and the latest opportunities and challenges that it faces. Key Highlights • The total number of NRI millionaires was approximately 236,000 in 2015 with an average wealth of over US$3.83 million. • The US accounted for the largest proportion of NRI millionaires, followed by the UK, the UAE, Canada, Hong Kong, Singapore and Indonesia. • Gulf countries accounted for the largest share of remittances to India at US$72.17 billion in 2015. • The value of the worldwide wealth management market for NRI millionaires valued at US$788 billion in 2015 and is expected to increase to US$1.284 trillion in 2020.
Table of Contents 1 Introduction 1.1 What is this report about? 1.2 Definitions 2 Executive Summary 3 Non-Resident Indians 3.1 NRI Population 3.2 Number of NRI Millionaires 3.2.1 NRI millionaires – wealth 3.2.2 NRI millionaires – demographic breakdown 3.2.3 NRI millionaires – industry breakdown 3.2.4 NRI billionaires – profile 3.3 NRI Wealth Portfolio 3.4 Remittances 4 Non-Resident Indian Investment Trends and Drivers 4.1 Investment Opportunities for Non-Resident Indians 4.2 Challenges Faced by the Indian Wealth Management Industry 4.3 Competitive Landscape 4.4 Overview of Leading Companies 4.5 Marketing and Expansion Strategies 5 Non-Resident Indians in the UK 5.1 Overview of NRI Trends in the UK 5.2 Competitive Landscape 5.2.1 Private banks 5.2.2 Wealth managers 5.2.3 Family offices 6 Non-Resident Indians in the US 6.1 Overview of NRI Trends in the US 6.2 Competitive Landscape in the US 6.2.1 Private banks 6.2.2 Wealth managers 6.2.3 Family offices 7 Non-Resident Indians in the Middle East and Africa 7.1 Overview of NRI Trends in the Middle East and Africa 7.2 The Competitive Landscape in the UAE 7.2.1 Private banks 7.2.2 Wealth managers 7.2.3 Family offices 7.3 The Competitive Landscape in Israel 7.3.1 Private banks 7.3.2 Wealth managers 7.3.3 Family offices 7.4 The Competitive Landscape in Saudi Arabia 7.4.1 Private banks 7.4.2 Wealth managers 7.4.3 Family offices 7.5 The Competitive Landscape in South Africa 7.5.1 Private banks 7.5.2 Wealth managers 7.5.3 Family offices 7.6 The Competitive Landscape in Nigeria 7.6.1 Private banks 7.6.2 Wealth managers 7.6.3 Family offices 8 Non-Resident Indians in Singapore 8.1 Overview of NRI Trends in Singapore 8.2 The Competitive Landscape in Singapore 8.2.1 Private banks 8.2.2 Wealth managers 8.2.3 Family offices 9 Non-Resident Indians in Hong Kong 9.1 Overview of NRI Trends in the Hong Kong 9.2 The Competitive Landscape in Hong Kong 9.2.1 Private banks 9.2.2 Wealth managers 9.2.3 Family offices 10 About WealthInsight
List of Tables Table 1: Geographical Spread of the Overseas Indian Population in Africa, May 2015 Table 2: Geographical Spread of the Overseas Indian Population in the Americas, May 2015 Table 3: Geographical Spread of the Overseas Indian Population in Asia-Pacific, May 2015 Table 4: Geographical Spread of the Overseas Indian Population in Europe, May 2015 Table 5: NRI Millionaires – Populations by Country, 2015 Table 6: NRI Millionaires – Total Wealth (US$ Billion), 2016–2020 Table 7: NRI Millionaires – Wealth by Country (US$ Billion), 2015 Table 8: Top NRI Billionaires (US$ Billion), 2015 Table 9: Permitted Foreign Direct Investment by Sector Table 10: FDI Inflows (US$ Billion), April 2000–March 2015 Table 11: Overseas Offices of Indian Banks Table 12: Deposits in Banks by NRIs (US$ Billion), 2011–2015 Table 13: Key Regulatory and Operational Challenges Faced by the Indian Wealth Industry Table 14: Wealth Management Industry – Main Companies Operating in India Table 15: UK Top 10 Private Banks in the Wealth Management Market, 2014 Table 16: Top 10 Wealth Management Companies in the UK, 2014 Table 17: UK Cities by Volume of Wealth Management Offices, 2014 Table 18: US Top 10 Private Banks by AuM, 2014 Table 19: US Top Foreign Private Banks by AuM, 2014 Table 20: US Wealth Managers per City, 2014 Table 21: US Top 20 Wealth Managers by AuM, 2014 Table 22: US Family Offices, 2014 Table 23: US Family Offices per City, 2014 Table 24: The UAE: Wealth Managers, 2014 Table 25: The UAE: Family Offices, 2014 Table 26: Israel: Major Local Private Banks, 2014 Table 27: Israel: Family Offices, 2014 Table 28: Leading Domestic Private Banks in Saudi Arabia by Local AuM (US$ Billion), 2014 Table 29: Leading Wealth Managers in Saudi Arabia by AuM (US$ Million), 2014 Table 30: Top Private Banks in Singapore, 2014 List of Figures Figure 1: Geographical Spread of the Overseas Indian Population, 2015 Figure 2: NRI Millionaires – Populations by Country (%), 2015 Figure 3: NRI Millionaires – Total Wealth (US$ Billion), 2016–2020 Figure 4: NRI Millionaires – Wealth by Country (%), 2015 Figure 5: NRI Millionaires – Age Distribution, 2015 Figure 6: NRI Millionaires – Gender Distribution, 2015 Figure 7: NRI Millionaires – Sources of Wealth, 2015 Figure 8: NRI Millionaires – Distribution by Industry, 2015 Figure 9: NRI Investment Portfolios, 2015 Figure 10: Indian Remittances (US$ Billion), 2011–2015 Figure 11: Indian Remittances by Continent of Origin Figure 12: Utilization of Funds Remitted Home by Overseas Indians Figure 13: Indian GDP Growth Rate (%), 2011–2020 Figure 14: Performance of the Rupee Against the US Dollar Figure 15: NRI Bank Deposits (US$ Billion), 2011–2015 Figure 16: NRI Millionaires Domiciled in the UK by Primary Source of Wealth, 2015 Figure 17: NRI Millionaires Domiciled in the UK by Age Group, 2015 Figure 18: NRI Millionaires Domiciled in the UK by Industry, 2015 Figure 19: Asset Allocations of NRI Millionaires Domiciled in the UK, 2015 Figure 20: NRI Millionaires Domiciled in the US by Primary Source of Wealth, 2015 Figure 21: NRI Millionaires Domiciled in the US by Age Group, 2015 Figure 22: NRI Millionaires Domiciled in the US by Industry, 2015 Figure 23: Asset Allocations of NRI Millionaires Domiciled in the US, 2015 Figure 24: NRI Millionaires Domiciled in the Middle East and Africa by Primary Source of Wealth, 2015 Figure 25: NRI Millionaires Domiciled in the Middle East and Africa by Age Group, 2015 Figure 26: NRI Millionaires Domiciled in the Middle East and Africa by Industry, 2015 Figure 27: Asset Allocations of NRI Millionaires Domiciled in the Middle East and Africa, 2015 Figure 28: NRI Millionaires Domiciled in Singapore by Source of Primary Wealth, 2015 Figure 29: NRI Millionaires Domiciled in Singapore by Age Group, 2015 Figure 30: NRI Millionaires Domiciled in Singapore by Industry, 2015 Figure 31: Asset Allocations of NRI Millionaires Domiciled in Singapore, 2015 Figure 32: Asset Allocations of NRI Millionaires Domiciled in Hong Kong, 2015
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