Unlocking Wealth: Essential Highlights from Julius Baer’s 2025 APAC Global Wealth and Lifestyle Report

Asia Pacific is seeing a wealth surge, according to the latest **Julius Baer Global Wealth and Lifestyle Report**. The region continues to grow quickly, with a real GDP increase of 4.5% in 2024, just below 2023’s 5.1% but still better than the global average of 3.3%. This growth is boosting the number of high-net-worth individuals (HNWIs), expected to reach 855,000 by the end of 2024.

Big growth spots like China and India are expected to make up nearly half of the world’s new HNWIs between 2025 and 2028. As a result, Asia Pacific is now home to three of the world’s most expensive cities: Singapore, Hong Kong, and Shanghai, each offering unique lifestyles and amenities that attract the wealthy.

**Cost of Living in Major Cities:**

Singapore remains the costliest city globally for the third year in a row. Its appeal includes a strong political climate and high-quality education and healthcare services. Hong Kong follows closely, known for its low taxes and vibrant lifestyle, while Shanghai ranks sixth. Interestingly, Bangkok has jumped six places to 11th place, making it a fascinating destination for luxury shopping, especially in fashion.

In terms of lifestyle expenses, **HNWIs in APAC** are shifting their spending habits. There’s a notable rise in investments in health and wellness, with many now focusing on experiences rather than just material goods. Recent statistics show that 80% of HNWIs reported increases in their assets over the past year, spending significantly more on high-end women’s clothing, fine dining, and hotels.

This year, business class airfare saw a staggering 12.6% rise, which aligns with a noticeable increase in leisure travel. A noteworthy trend is the focus on longevity; all HNWIs surveyed are reportedly taking steps to increase their lifespans, ranging from healthy diets to more advanced methods like gene therapies and cryogenic treatments.

Investment strategies are evolving too. Many HNWIs are diversifying their portfolios more than ever. While traditional assets like equities and real estate remain popular, there’s a growing interest in sustainable investments, even as ESG (Environmental, Social, and Governance) fatigue arises in other regions.

**Generational Wealth Transfer:**

The upcoming generational wealth transfer is projected to shift $5.8 trillion in assets between 2023 and 2030. This will likely create changes in lifestyle and spending, emphasizing sustainability and digital experiences. As this wealth evolution continues, it will likely reshape the global luxury markets and investment trends.

At the heart of these developments is a youthful and dynamic emerging class of entrepreneurs. Innovations driven by technology will continue to influence the investment landscape, turning the focus towards more sustainable practices.

As Asia Pacific continues to redefine wealth, these trends not only impact the region itself but also send ripples across global financial strategies, real estate, and luxury markets.

For those keen on exploring these insights further, the full report is available at www.juliusbaer.com/GWLR.

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