This report is the result of WealthInsight's extensive research covering the high net worth individual (HNWI) population and wealth management market in Turkey. The report focuses on HNWI performance between the end of 2008 (the peak before the global financial crisis) and the end of 2013. This enables us to determine how well the country's HNWIs have performed through the crisis.
This report is a thorough analysis of Turkey's Wealth Management and Private Banking sector, and the opportunities and challenges that it faces.
Independent market sizing of Turkey HNWIs across five wealth bands HNWI volume and wealth trends from 2009 to 2013 HNWI volume and wealth forecasts to 2018 HNWI and UHNWI asset allocations across 13 asset classes Number of UHNWIs in each state and all major cities Fastest growing cities and states for UHNWIs (2009-2013) Insights into the drivers of HNWI wealth
Reason To Buy
The Challenges and Opportunities for the Wealth Sector in Turkey 2014 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. With the wealth reports 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 2018.
In 2013, Turkish HNWIs held 27.0% (US$132 billion) of their wealth outside of their home country; the worldwide average is 20-30%. WealthInsight expects foreign asset holdings to increase to US$169 billion by 2018, accounting for 24.8% of the total HNWI assets. In 2013, Europe accounted for 49.2% of the foreign assets of Turkish HNWIs. It was followed by the Middle East with 18.7%, Asia-Pacific with 15.1%, North America with 9.0%, Latin America with 5.0% and Africa with 3.0%. Turkish HNWI allocations to Europe decreased compared with other regions during the review period, from 52.1% in 2009 to 49.2% in 2013. Latin America and Asia-Pacific were considered emerging regions in terms of global investment. Over the forecast period, WealthInsight expects HNWIs to reduce their level of investment in Europe to 47.1% of foreign HNWI assets by 2018, with investments decreasing due to growing confidence in Asian economies.
1 INTRODUCTION 1.1 Details of this Report 1.2 Definitions 2 EXECUTIVE SUMMARY 3 WEALTH SECTOR FUNDAMENTALS 3.1 Political Background 3.2 Economic Background 3.3 Social Background 3.4 Benchmarking Turkey's Wealth in Context 3.4.1 Distribution of wealth in Turkey 3.5 HNWI Volume and Wealth Trends 4 COMPETITIVE LANDSCAPE OF THE WEALTH SECTOR 4.1 Competitive Landscape 4.1.1 Domestic banks 4.1.2 Foreign Private Banks 4.1.3 Wealth managers 4.1.4 Family offices 4.1.5 Financial advisors 4.2 Turkish Wealth Management Industry - Clientele Model and Maturity 4.3 Behavioral Mapping of Wealth Management and Private Banking in Turkey 5 APPENDIX 5.1 Additional Components of the Wealth Sector in Turkey 5.1.1 Philanthropy 5.2 Regulations on Taxes 5.3 Regulations Related to Immigration, Investment and Employment 5.4 Key Drivers 5.4.1 TRY to US$ exchange rate 5.4.2 Real GDP growth 5.4.3 Per capita GDP 5.4.4 Domestic market capitalization 5.4.5 Commodity index 5.4.6 Foreign direct investments (FDI) - inflows and outflows 5.4.7 Inflation rate 5.4.8 Interest rate 5.4.9 Balance of payments 5.4.10 Government debt 5.4.11 Stock market performance 5.5 Wealth Breakdowns 6 ABOUT WEALTHINSIGHT
Table 1: HNWI Wealth Band and Group Definitions Table 2: Turkish Population Volume of Key Cities (Million), 2013 Table 3: Turkish Leading Domestic Private Banks, 2013 Table 4: Turkish Leading Foreign Private Banks, 2013 Table 5: Turkish Wealth Managers, 2013 Table 6: Turkish Family Offices, 2013 Table 7: Turkish Income Tax Bands (TRY), 2012-2013 Table 8: Turkish Exchange Rate -TRY to US$, 2009-2018 Table 9: Turkish Real GDP Growth (%), 2009-2018 Table 10: Turkish GDP Per Capita (US$), 2009-2018 Table 11: Turkish Domestic Market Capitalization (US$ Billion), 2009-2013 Table 12: Turkish Commodity Indices, 2009-2018 Table 13: Turkish Foreign Direct Investments (US$ Billion), 2009-2018 Table 14: Turkish Inflation Rate (%), 2009-2018 Table 15: Turkish Money Market Rate (%), 2009-2018 Table 16: Turkish Balance of Payments (US$ Billion), 2009-2013 Table 17: Turkish Government Debt as a Percentage of GDP (%), 2009-2018 Table 18: Turkish Stock Market Performance (Index), 2009-2013 Table 19: Turkish HNWI Wealth vs. GDP Ratio (%), 2009-2018 Table 20: Turkey- Appendix One Table 21: Turkey - Appendix Two
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