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South Asia’s Wealth Diaspora: Looking Beyond Non-Resident Indians

Publisher Name » BRICdata
Published Date » 2012-04-19
No. Of Pages » 105

Synopsis
  • The report provides in-depth market analysis, information and insights, including:
  • Country wise breakdown of the population of non-resident South Asians across the globe
  • Current and future size of the wealth management market for non-resident South Asian millionaires
  • Comprehensive, country-specific analysis of the industry’s market attractiveness, covering key investment trends and drivers
  • Detailed analysis of the marketing and growth strategies adopted by various financial institutions offering wealth management services to non-resident South Asians
  • Detailed analysis of the challenges affecting the investments of non-residents in South Asia
  • Company profiles of the major banks offering wealth management services to non-resident South Asians
The population of overseas Indians, including non-resident Indians (NRIs) and persons of Indian origin (PIOs), reached 21.6 million in 2011. The US accounts for the largest proportion of NRI millionaires, followed by the UK, the UAE, Canada, Hong Kong, Singapore and Indonesia. The population of overseas Pakistanis, including non-resident Pakistanis (NRPs) and persons of Pakistani origin (PPOs) reached eight million in 2011. The UK has the largest share of NRP millionaires, followed by the US, the Persian Gulf countries and Canada. The population of non-resident Bangladeshis (NRBs) reached 5.4 million in 2011. The Persian Gulf countries account for the largest number of NRB millionaires, followed by the UK and the USA. The population of overseas Sri Lankans, including non-resident Sri Lankans (NRSLs) and persons of Sri Lankan origin (PSLOs) reached 2.5 million in 2011. Singapore accounts for the highest proportion of overseas Sri Lankans in 2011; followed by Canada, the UK and the UAE.

Scope
  • This report provides an extensive analysis on the wealth management market for non-resident South Asians
  • It details the historical values for wealth management market size for non-resident South Asian millionaires for 2007–2011, along with forecast figures for 2012–2016
  • The report provides a detailed analysis on investment trends and drivers, marketing strategies, plus the challenges in the wealth management market for non-resident South Asians
  • The report profiles the top wealth management providers across the globe providing services to non residents South Asians
Key highlights
  • The value of the worldwide wealth management market for NRI millionaires increased at a compound annual growth rate (CAGR) of 9.4% during the review period. This value is expected to increase at a CAGR of 10.93% over the forecast period.
  • With a worldwide NRI base of 21.6 million, India already has the world’s second-largest non-resident national population. The country’s NRI millionaire count of 170,000 is also among the highest in the world, with this group having average wealth of over US$3 million. Moreover, the total wealth of NRI millionaires is expected to increase by 6.9% in 2011-2012, while the NRI population is currently growing by 1% per annum. This equates to an annual growth of 300,000 people, a growth that is expected to increase opportunities for wealth management service providers.
  • With Persian Gulf countries accounting for 48% of the total non-resident Pakistani population, Gulf-based NRPs are one of the largest markets for wealth management companies. In terms of proportion of total NRP population, the Persian Gulf countries are followed by the UK and the US. Furthermore, Saudi Arabia and the UAE both employ a considerable number of Pakistani workers. Consequently, many leading domestic and international banks are focusing on these customers in order to expand their wealth management businesses.
  • The total amount of NRB remittance sent to Bangladesh recorded robust growth during the review period. However, this growth has recently slowed rapidly with the 2011 annual growth of 6% being less than half the 2010 annual growth of 13.4%. Over the forecast period, the increasing number of Bangladeshis leaving their home country is expected to continue to drive remittance growth, with total remittance expected to record a CAGR of 12.02%.
  • The value of the worldwide wealth management market for NRSL millionaires increased at a CAGR of 12.43% during the review period. This value is expected to record a CAGR of 11.31% over the forecast period.
Reasons to buy
  • Take strategic business decisions using top-level historic and forecast market data related to the wealth management market for non-resident South Asians
  • Understand the growth drivers of the wealth management market for non-resident South Asians, along with key market trends and growth opportunities
  • Assess the marketing and growth strategies adopted by banks and other wealth management service providers for non-resident South Asians
  • Assess the competitive dynamics in the wealth management market for non-resident South Asians
  • The report provides in-depth market analysis, information and insights, including:
  • Country wise breakdown of the population of non-resident South Asians across the globe
  • Current and future size of the wealth management market for non-resident South Asian millionaires
  • Comprehensive, country-specific analysis of the industry’s market attractiveness, covering key investment trends and drivers
  • Detailed analysis of the marketing and growth strategies adopted by various financial institutions offering wealth management services to non-resident South Asians
  • Detailed analysis of the challenges affecting the investments of non-residents in South Asia
  • Company profiles of the major banks offering wealth management services to non-resident South Asians
Table of contents

1 Executive Summary

2 South Asia’s Wealth Diaspora – Country Benchmark Comparison
2.1 Market Environment
2.2 Share of Wealth by Nationality
2.3 Comparison of Remittances Across South Asia

3 India
3.1 Market Environment
3.1.1 GDP at constant prices
3.1.2 Inflation
3.1.3 Market capitalization
3.2 NRI Population
3.2.1 Number of non-resident Indians
3.2.2 Number of non-resident Indian millionaires
3.2.3 Wealth of non-resident Indian millionaires
3.3 Remittance
3.4 Investment Trends and Drivers
3.4.1 RBI norms expected to encourage NRI investment in India
3.4.2 NRI demographics
3.4.3 Growing base of NRIs
3.4.4 Well-regulated capital markets
3.4.5 India’s economic growth
3.4.6 Proactive FDI policy
3.4.7 Favorable currency exchange rates expected to continue to encourage investment of NRI wealth in India
3.4.8 Competition
3.5 Government Initiatives Designed to Attract the Wealth of India’s Non-Resident Population
3.6 Competitive Landscape
3.6.1 Overview of leading companies
3.6.2 Marketing and expansion strategies
3.7 Challenges

4 Pakistan
4.1 Market Environment
4.1.1 GDP at constant prices
4.1.2 Inflation
4.1.3 Market capitalization
4.2 NRP Population
4.2.1 Number of non-resident Pakistanis
4.2.2 Number of non-resident Pakistani millionaires
4.2.3 Wealth of non-resident Pakistani millionaires
4.3 Remittance
4.4 Investment Trends and Drivers
4.4.1 Increasing number of NRPs worldwide
4.4.2 Persian Gulf-based NRPs remain the key market for wealth management providers
4.4.3 Favorable investment policies and well-regulated financial markets
4.4.4 Positive economic outlook
4.4.5 Increasing competition among domestic and international wealth management providers
4.4.6 Favorable exchange rate encouraging NRP investment in Pakistan
4.5 Competitive Landscape
4.5.1 Overview of leading companies
4.5.2 Marketing and expansion strategies
4.6 Challenges

5 Bangladesh
5.1 Market Environment
5.1.1 GDP at constant prices
5.1.2 Market capitalization
5.1.3 Inflation rate
5.2 NRB Population
5.2.1 Number of non-resident Bangladeshis
5.2.2 Number of non-resident Bangladeshi millionaires
5.2.3 Wealth of non-resident Bangladeshi millionaires
5.3 Remittance
5.4 Investment Trends and Drivers
5.4.1 NRB investment options
5.4.2 Investment products targeting NRB customers are being introduced by the country’s leading banks
5.4.3 Incentives to attract NRB investment
5.4.4 Trade fairs are being organized to in order to attract investment in Bangladesh stock market
5.4.5 Bangladesh’s strong economic performance is driving growth in NRB investment
5.4.6 Banks working with money transfer companies to improve remittance process
5.4.7 Increasing overseas employment is driving growth in inward remittances
5.5 Competitive Landscape
5.5.1 Overview of leading companies
5.5.2 Marketing and expansion strategies
5.6 Challenges

6 Sri Lanka
6.1 Market Environment
6.2 NRSL Population
6.2.1 NRSL population
6.2.2 Number of non-resident Sri Lankan millionaires
6.2.3 Wealth of non-resident Sri Lankan millionaires
6.3 Remittance
6.3.1 Remittance by region
6.4 Investment Trends and Drivers
6.4.1 Sri Lanka's strong, resilient economy has helped to increase business confidence in the country
6.4.2 Sri Lankan government seeking to promote NRSL investment in the country
6.4.3 Depreciation of Sri Lankan rupee expected to increase capital investment in the country
6.4.4 Further non-resident investment anticipated over the forecast period
6.4.5 Availability of Sri Lankan banks in foreign countries
6.5 Competitive Landscape
6.5.1 Overview of leading companies
6.5.2 Marketing and expansion strategies
6.6 Challenges

7 Appendix
7.1 About BRICdata
7.1.1 Areas of expertise
7.2 Methodology
7.3 Disclaimer

List of Tables


Table 1: Non-Resident Population of South Asian Countries – 2011
Table 2: Non-Resident Millionaires Wealth Comparison (US$ Billion), 2007–2016
Table 3: Average Wealth of Non-Resident Millionaires, 2011
Table 4: Overseas Indian Population by Country, 2011
Table 5: NRI Millionaire Population by Country, 2011
Table 6: NRI Millionaires Total Wealth (US$ Billion), 2007–2011
Table 7: NRI Millionaires Total Wealth (US$ Billion), 2012–2016
Table 8: NRI Millionaires Wealth by Country (US$ Billion), 2011
Table 9: List of Indian Billionaires Worldwide, 2012
Table 10: Indian Remittances by Country of Origin (US$ Billion), 2007–2011
Table 11: Deposits in Banks by NRIs (US$ Billion), 2007–2011
Table 12: FDI Inflows (US$ Billion), April 2000–June 2011
Table 13: Investment Cap for Persons Resident Outside India by Sector
Table 14: Non-Resident Pakistani Population by Country (Million), 2011
Table 15: NRP Millionaire Population by Region, 2011
Table 16: NRP Millionaires’ Wealth (US$ Billion), 2007–2011
Table 17: NRP Millionaires’ Wealth (US$ Billion), 2012–2016
Table 18: NRP Millionaires’ Wealth by Region (US$ Billion), 2011
Table 19: Pakistani Remittances (US$ Million), 2007–2011
Table 20: Pakistani Remittances by Country of Origin (US$ Million), 2007–2011
Table 21: Pakistan’s Gross Domestic Product and Foreign Exchange Reserves (US$ Billion), 2007-2011
Table 22: Net Inflow of Foreign Investment in Pakistan (US$ Million), 2007–2011
Table 23: Pakistan – Market Capitalization (PKR Billion), 2007–2011
Table 24: Overseas Bangladeshi Population by Country, 2011
Table 25: NRB Millionaires by Region, 2011
Table 26: NRB Millionaires Wealth (US$ Billion), 2007–2011
Table 27: NRB Millionaires Wealth (US$ Billion), 2012–2016
Table 28: NRB Millionaires Wealth by Region (US$ Billion), 2011
Table 29: Bangladeshi Remittances by Country of Origin (US$ Million), 2007–2011
Table 30: Bangladesh – Foreign Exchange Reserves (US$ Billion), 2007-2011
Table 31: Bangladeshi Overseas Employment New Migrations, 2007–2011
Table 32: Bangladesh Remittances Market Share by Bank, March 2012
Table 33: BRAC Bank Money Transfer Partnerships by Country, 2010
Table 34: NRSL Population by Country – 2011
Table 35: NRSL Millionaires by Country, 2011
Table 36: NRSL Millionaires Wealth (US$ Billion), 2007–2011
Table 37: NRSL Millionaires Wealth (US$ Billion), 2007–2011
Table 38: NRSL Millionaires Wealth by Country (US$ Billion), 2011
Table 39: Remittances by Non-resident Sri Lankans (US$ Billion), 2007–2011
Table 40: Sri Lanka Remittances by Region (US$ Million), 2007–2011

List of Figures


Figure 1: Non-Resident Population of South Asian Countries – 2011
Figure 2: Non-Resident Millionaires Wealth Comparison (US$ Billion), 2007–2016
Figure 3: South Asia Comparison of Remittances (US$ Billion) – 2011
Figure 4: India – GDP at Constant Prices (US$ Billion), 2007–2016
Figure 5: India – Inflation Rate (%), 2007–2016
Figure 6: India – Market Capitalization (US$ Billion), 2007–2011
Figure 7: Overseas Indian Population by Country (%), 2011
Figure 8: NRI Millionaire Population by Country (%), 2011
Figure 9: NRI Millionaires Total Wealth (US$ Billion), 2007–2011
Figure 10: NRI Millionaires Total Wealth (US$ Billion), 2012–2016
Figure 11: NRI Millionaires Wealth by Country (%), 2011
Figure 12: NRI Wealth Portfolio (US$ Billion), 2011
Figure 13: Segmentation of Indian Billionaires By Net Worth (US$ Billion), 2012
Figure 14: Indian Billionaires’ Sources of Wealth (%), 2012
Figure 15: Indian Remittances (US$ Billion), 2007–2011
Figure 16: Indian Remittances by Country of Origin (%), 2011
Figure 17: Utilization of NRI Remittance (%)
Figure 18: Investment Trends and Drivers
Figure 19: Deposits in Banks by NRIs (US$ Billion), 2007–2011
Figure 20: Exchange Rate (US$ to INR), January 2011–December 2011
Figure 21: Pakistan – GDP at Constant Prices (US$ Billion), 2007–2016
Figure 22: Pakistan – Inflation Rate (%), 2007–2016
Figure 23: Pakistan – Market Capitalization (US$ Billion), 2007–2011
Figure 24: Non-Resident Pakistani Population by Country (%), 2011
Figure 25: NRP Millionaire Population by Region (%), 2011
Figure 26: NRP Millionaires’ Wealth (US$ Billion), 2007–2011
Figure 27: NRP Millionaires’ Wealth (US$ Billion), 2012–2016
Figure 28: NRP Millionaires’ Wealth by Region (US$ Billion), 2011
Figure 29: Pakistani Remittances (US$ Million), 2007–2011
Figure 30: Pakistani Remittances by Country of Origin (%), 2011
Figure 31: Investment Trends and Drivers
Figure 32: Exchange Rate (US$ to PKR), 2007–2011
Figure 33: Net Inflow of Foreign Investment in Pakistan (US$ Million), 2007–2011
Figure 34: Pakistan – Market Capitalization (PKR Billion), 2007–2011
Figure 35: Bangladesh GDP at Constant Prices (US$ Billion), 2007–2016
Figure 36: Dhaka Stock Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 37: Bangladesh – Inflation Rate (%), 2007–2016
Figure 38: Overseas Bangladeshi Population by Country, 2011
Figure 39: NRB Millionaires by Region, 2011
Figure 40: NRB Millionaires Wealth (US$ Billion), 2007–2011
Figure 41: NRB Millionaires Wealth (US$ Billion), 2012–2016
Figure 42: NRB Millionaires Wealth by Region (US$ Billion), 2011
Figure 43: Bangladesh Remittances (US$ Billion), 2007–2011
Figure 44: Bangladesh Remittances (US$ Billion), 2012–2016
Figure 45: Bangladeshi Remittances by Country of Origin (%), 2011
Figure 46: Bangladesh Remittances Market Share by Bank, March 2012
Figure 47: Sri Lanka GDP Value at Constant Prices (US$ Billion), 2007–2016
Figure 48: Sri Lanka – Colombo Stock Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 49: Sri Lanka Inflation Rate (%), 2007–2016
Figure 50: NRSL Population by Country – 2011
Figure 51: NRSL Millionaires by Country, 2011
Figure 52: NRSL Millionaires Wealth (US$ Billion), 2007 – 2011
Figure 53: NRSL Millionaires Wealth (US$ Billion), 2012 – 2016
Figure 54: NRSL Millionaires Wealth by Country (US$ Billion), 2011
Figure 55: Remittances by Non-resident Sri Lankans (US$ Billion), 2007–2011
Figure 56: Sri Lanka Remittances by Region, 2011
Figure 57: Investment Trends and Drivers
Figure 58: Exchange Rate (US$ to LKR), 2007–2011

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