The Expansion Of The Millionaire Will Bring The Recovery Of The Global Luxury Industry.

According to the global wealth report released by the Credit Suisse Research Institute in 2017, the global wealth growth rate is higher than the recent level in the past 12 months as of 2017, and the average wealth of adults has reached a record high.

Some analysts believe that the expansion of the high net worth population and global wealth will help the global luxury industry to fully recover.

According to the world clothing and shoe net, China's family wealth has increased by 12.5% every year since 2000, representing an increase of six times over the past 17 years.

Fluctuations in asset prices and exchange rates are the main drivers of household wealth changes.

China last year

The total market value increased by about 15%, and house prices rose by about 10%.

China's family wealth is expected to grow by about US $10 trillion, or rise at an annual rate of about 6%. It will reach US $39 trillion in 2022 and become the main source of global wealth growth in the next five years.

China accounts for a very high proportion of the world's 1 billion 100 million middle class (wealth between us $10000 and US $100000), rising rapidly from 12.6% in 2000 to 35% in 2017.

The global middle class population is projected to increase by 230 million to 1 billion 200 million by 2022, when China's share will rise to 40%.

The distribution of the wealth classes in the world is larger than that of the middle class in China.

Growth of household wealth in various regions of the world last year

China's millionaires and millionaires and other high net worth people have increased rapidly and expanded worldwide.

At present, the number of millionaires in China is 2 million, about 5% of the global total, with a total of 9 trillion and 800 billion dollars.

Following the US, Germany, Australia and France, the number of Chinese millionaires grew by fifth in the world.

It is estimated that by 2022, the number of millionaires in China will grow by 41% to 2 million 700 thousand, next to the United States and Japan, ranking third.

The global distribution of ultra high net worth population is ranked second in China.

China has 18100 super high net worth people, ranking second in the world, second only to the United States, and increased by 17.7% from 2016 to 2017, an increase of about 3000.

The number of super high net worth people in China is nearly 40 times that of 2000, and has increased by 17700 in the past 17 years.

China's super high net worth people expect to increase more than 40% to 25500 in the next five years.

The number of billionaires in the world in the next five years is expected to increase to 719, to nearly 3000, of which 205 will be in China, accounting for nearly 30%.

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Urs Rohner, chairman of Credit Suisse Research Institute and chairman of Credit Suisse Group, said that the global financial crisis broke out ten years ago. During the period, the wealth of every region in the world increased significantly.

According to the Global Wealth Report of eighth, the total value of global wealth increased by 16 trillion and 700 billion US dollars to 280 trillion US dollars in the past year to the middle of 2017, rising by 6.4%, the largest increase since 2012.

Wealth in the Asia Pacific region is booming in the global market, with the main driving force coming from China.

In 2016, Asia Pacific wealth increased by US $2 trillion and 600 billion to US $89 trillion, an increase of 3%.

The slowdown is mainly due to adverse changes in the currency exchange rate.

If the exchange rate is fixed, the Asia Pacific region's wealth growth will be 5.9%.

Average annual wealth growth in various regions of the world

Last year, global wealth growth in various regions ranked second in China.

China is the most powerful country of wealth growth in the Asia Pacific region. The total value of wealth increased by 1 trillion and 700 billion US dollars to US $29 trillion, rising by 6.3%.

According to the state, China's wealth growth ranks second in the world, second only to the United States.

As the yen depreciated against the US dollar, Japan's wealth declined by 6.1% to 23 trillion and 700 billion dollars, and Japan's total bad value rose moderately by 2.8% based on yen.

It is noteworthy that the report also explores the wealth outlook of the millennial generation, and believes that the period of this generation is more challenging than previous generations.

Surprisingly, the data reflect the "Millennium disadvantage", which includes more stringent mortgage regulations, rising housing prices, income inequality and reduced income mobility, which impede the accumulation of wealth by young office workers and savers in many countries.

From the global perspective of the millennial generation, this generation will not only face greater challenges in future wealth creation, but will continue to face more unequal distribution of wealth than previous generations.

However, according to the list of billionaires published by Forbes recently, the number of people under 30 is surging, especially in China and other emerging markets.

In absolute terms, the number of young billionaires is increasing.

In response to the report

The worries of future challenges are that the luxury sector believes that rising housing prices and other social pressures may increase young consumers' enjoyment and purchase.

The desire for wealth, and the richly richer young millionaire, are also showing greater interest in luxury goods.

This is good news for the luxury industry.

According to the Comprehensive Credit Suisse Research Report, the growth of global wealth, the expansion of the middle class and billionaires are releasing positive signals for the recovery of the global luxury industry.

In fact, since 2017, major luxury group earnings have recorded more optimistic results than before.

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