Who are the luxury, high-end travellers? And how can they be identified? The latest edition of the annual World Wealth Report from Merrill Lynch and Capgemini, puts the number of High Net Worth Individuals (HNWIs)¹ worldwide at 9.5 million in 2006 (+8.3% over the level recorded in 2005). The total assets of these HNWIs, meanwhile, are estimated at US$37.2 trillion (+11.4%).

The 2007 report shows that global wealth has continued to become more concentrated – a trend seen over the eleven years since the first World Wealth Report was published, with the assets of the world’s wealthiest individuals accumulating at a much faster rate than the growth of the overall HNWI population. The Middle East is the notable exception.

The wealth gains of HNWIs outpaced the growth in the numbers of HNWIs by more than three percentage points in 2006. Gains were particularly strong in Latin America, Africa and Asia Pacific, where 2006 HNWI wealth grew by 23.2%, 14.0% and 10.5%, respectively, thanks to record prices in the commodities industries that flourish in these regions. In the Middle East, total HNWI wealth grew by 11.7% in 2006, while the overall HNWI population grew by 11.9%, which suggests a slight dispersion of wealth in this part of the world.

The continued growth of HNWI wealth has largely been driven by the world’s wealthiest individuals, according to Merrill Lynch/Capgemini – the Ultra-HNWIs². In 2006, the number of Ultra-HNWIs grew by 11.3% to total 94,970. Total accumulated wealth for this elite group also increased last year, by an impressive 16.8%, to US$13.1 trillion – around 30% of the global total – another sign that world wealth is rapidly consolidating among this ultra-wealthy segment.

The developed world continues to dominate the ranks of the world’s rich. Some two thirds (64%) of HNWIs live in the USA, Japan, Germany, the UK, or France, with 30% in the USA alone.

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