Professional Documents
Culture Documents
World City Millionaire Rankings African City Millionaire May 2013 Rankings July 2013
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
The following table ranks the fastest growing cities for millionaires over the next 8 years up to 2020. This list only includes cities with over 800 millionaires in 2012. As reflected, Accra in Ghana is expected to be the fastest growing major city for African millionaires over the next 8 years, with millionaire numbers in the city rising from 800 in 2012 to 1,500 in 2020.
Note: Only includes cities with over 800 millionaires in 2012 Source: NW-Wealth.com NW-Wealth.com
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
As reflected below, South African cities are still expected to dominate the top 10 in 2020.
Source: NW-Wealth.com
NW-Wealth.com
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Johannesburg again tops the list with 285 multi-millionaires, followed by Cairo with 145 and Lagos with 123.
The order is quite similar to the millionaire table except that Casablanca and Algiers drop off the top 10 and are replaced by Dar es Salaam and Alexandria.
Source: NW-Wealth.com
NW-Wealth.com
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Source: NW-Wealth.com
NW-Wealth.com
Ethiopia and the Ivory Coast are expected to be the fastest growing markets for millionaires up to 2020 with growth of 7.4% per annum. Zambia, Ghana and Angola are also expected to grow strongly.
Note: Only includes countries with over 800 millionaires in 2012 Source: NW-Wealth.com NW-Wealth.com
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Source: NW-Wealth.com
NW-Wealth.com
Definitions: Millionaires otherwise known as high net worth individuals or HNWIs refer to individuals with net assets of US$1 million or more excluding their primary residences. Multi-millionaires otherwise known as ultra high net worth individuals or UHNWIs are individuals with net assets of US$30 million or more excluding their primary residences. The same applies across all countries covered: South African HNWIs include all individuals permanently living in South Africa, as well as South African-born individuals who have chosen to live elsewhere but still operate businesses in South Africa.
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
At New World Wealth's core is our proprietary HNWI Database of the world's wealthiest individuals. Around this database we have built a number of valuable research-based products and services.
We work with and provide solutions for: Luxury Goods Companies private jets, art, yachts, prime property, fine wine, classic cars, jewelry Wealth managers Private banks Family offices Professional services consultants, accountants, lawyers and real estate professionals Fund managers, hedge fund managers, asset managers, venture capitalists Non-profit and educational institutions
We also offer several bespoke services directly to high net worth individuals including: Asset Allocation Strategies Access to global prime property investments Access to fixed income products Access to art, wine and classic car funds
New World Wealth has offices in Oxford, United Kingdom and Johannesburg, South Africa.
The Intelligence Center The New World Wealth Intelligence Center Database comprises over 120,000 HNWIs from around the world. The Intelligence Center also includes profiles and AuM sizing of private banks, wealth managers and family offices in each market.
With the Database 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.
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Reports New World Wealth publishes high-quality research reports focused on the wealth sector. The reports provide comprehensive analysis of countries, regions and special topics.
Every New World Wealth report is uniquely formulated for the region, country or topic covered. Key features of the reports include: Market sizing Forecasting Benchmarking HNWI asset allocation Behavioral mapping Family offices
Methodology New World Wealths team of in-house analysts devise and collect data over a historical period of five years and develop forecasts for a eight-year forecast period. All New World Wealth reports are rigorously sourced and created according to a comprehensive methodological process:
Internal audit Review of in-house databases to gather existing data: Historic market databases and reports HNWI Database Wealth management, private bank and family office database Financial deals and news archive
Secondary research Collection of the latest market-specific data from a wide variety of industry sources: Government statistics Industry associations Company filings Broker reports International organizations
Primary research Review of the latest wealth management and private banking industry trends Surveys using panels compiled from across the wealth sector: Wealth management and private banking professionals Financial services experts
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Expert opinion
HNWIs
Collation of opinion taken from New World Wealth interviews of leading industry experts Analysis of third-party opinion and forecasts: Broker reports Industry associations Wealth management and private banking media Official government sources Leading academic research and commentary
Data consolidation and verification Consolidation of data and opinion to create historical datasets Creation of models to benchmark data across sectors, asset classes and geographies
Market forecasts Feed of forecast data into market models: Macroeconomic indicators Industry-specific drivers Analysis of the New World Wealth HNWI Database and Wealth sector company databases to identify key trends: Latest wealth trends Report writing Analysis of market data Discussion of company and industry trends and issues Integration of survey results Annual review of financial deals and wealth management trends Standardization of market definitions using recognized industry classifications Key drivers of the wealth management industry
Quality control Peer review Senior-level QC Random spot checks on data integrity Benchmark checks across databases Market data cross-checked for consistency with accumulated data from: Internal databases Company filings
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Economic Modeling We have a sample of over 120,000 worldwide HNWIs in our database and over 200 in each covered country. This allows us to plot the top of the Lorenz curve for each country. We then use official country-wise income distribution statistics (from the World Bank) to chart the rest of the curve and determine the number of individuals in each of the five tiers that we analyze.
Economic country-wise inputs are then put into our model which uses them to forecast HNWI wealth and volumes for period up to 2020. Keys country-wise drivers include: Exchange rate vs. US$ Real GDP growth US$ GDP per capita Wealth in country Wealth per capita Stock exchange performance local and foreign Real estate performance local residential and commercial Prime residential property index local and foreign Commodity prices incl. gold, oil, general commodities as well as any country specific ones. (example: Coal, Tobacco and Palm Oil in Indonesia) Saving rates Government and corporate bond yields Money market rates Hedge fund index Art, wine and classic car indices Corporate earning index Forward looking PE multiples
Asset Allocation We aggregate surveys done on individual HNWIs on our database to work out asset allocations for 2007 to 2012. We then forecast the performance of each asset class up to 2020 using inputs above and account for any expected switching between asset classes.
Demographics City, sector and other demographic breakdowns are taken directly from our database which has this information for every individual. We also consider the number of million dollar homes in each area as a sanity check when calculating city, state and suburb numbers.
We insure that our results are statistically significant off at least a 95% confidence interval.
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.
Contact Us
Andrew Amoils Senior Analyst andrew.amoils@nw-wealth.com +44 1865 407 192 www.nw-wealth.com
African City Millionaire Rankings - July 2013 New World Wealth. This report is a licensed product and is not to be photocopied.