Bangkok sees ultra-wealthy population expand rapidly

Bangkok is emerging as Southeast Asia's fastest-growing hub for ultra-high-net-worth (UHNW) individuals, reinforcing Thailand's appeal as a destination for global wealth despite persistent economic and geopolitical uncertainty.

According to wealth intelligence firm Altrata's World Ultra Wealth Report 2026, Thailand was home to 2,090 UHNW individuals in 2025, including 1,210 primary residents in Bangkok.

UHNW individuals are defined as those with net assets exceeding US$30 million.

Bangkok's UHNW population is projected to increase to around 1,840 by 2030 from 1,210 in 2025, growing by more than 50%, or at an average annual increase of 8.7%, said Maya Imberg, senior director and head of thought leadership and analytics at Altrata.

The forecast ranks Bangkok as the world's 12th fastest-growing major UHNW city among the world's 100 largest urban economies by nominal GDP, making it Southeast Asia's fastest-growing wealth hub, ahead of Jakarta.

"Bangkok stands out not only because of the pace of its wealth creation, but also because it combines strong domestic entrepreneurship with growing international appeal," Ms Imberg said.

Among the world's major cities, Bangkok is expected to record one of the fastest expansions in its ultra-wealthy population over the next five years, strengthening its position as an emerging global wealth centre, she said.

BROAD WEALTH DRIVERS

Ms Imberg said Bangkok's wealth expansion was supported by a broad economic base rather than reliance on a single industry.

"Real estate, hospitality and entertainment, banking and finance, together with business and consumer services, remain among the most important sectors generating wealth for Bangkok's ultra-high-net-worth population," she said.

The report found that most Bangkok-based UHNW individuals are self-made entrepreneurs, although many benefited from inherited capital during the early stages of building their businesses.

"Fully inherited wealth accounts for less than one-tenth of Bangkok's ultra-wealthy population," Ms Imberg said.

"The majority are entrepreneurs who have built their fortunes themselves, often with some degree of family support rather than inheritance alone."

She said the continued expansion of Thailand's wealthy population reflected structural strengths rather than short-term market cycles.

"The size and growth of a country's ultra-high-net-worth population are shaped by multiple long-term factors, including institutional quality, tax and trade policies, entrepreneurship, capital markets and currency strength," she said.

Altrata also highlighted the growing mobility of wealthy individuals, with affluent entrepreneurs increasingly investing, working and living across multiple jurisdictions while maintaining global business networks.

GLOBAL WEALTH SURGE

According to the report, the global UHNW population reached a record 556,850 individuals in 2025, rising by 14.4% from a year earlier. It marked the second consecutive year of double-digit growth and the strongest expansion since 2017.

Combined wealth climbed to $63.8 trillion, more than double the annual GDP of the United States. Altrata expects the global UHNW population to reach 746,570 by 2030, with combined wealth rising to $85 trillion.

The report said future wealth creation will be driven primarily by technological transformation, private capital expansion and the restructuring of the global economy around artificial intelligence, the energy transition and digital infrastructure.

Growth opportunities are also expected in private credit, network infrastructure, defence technology, renewable energy, biotechnology and advanced manufacturing.

CHANGING DEMOGRAPHICS

The global ultra-wealthy population has expanded rapidly over the past two decades. Since 2004, the number of UHNW individuals has increased by 255%, surpassing growth in the global adult population by sevenfold.

There were just under 51 million millionaires worldwide in 2025. Although UHNW individuals represented only 1.1% of this population, they controlled 32% of total millionaire wealth.

One of the fastest-growing segments has been centi-millionaires, individuals with net assets exceeding $100 million. Their ranks almost doubled to more than 117,000 in 2025 from about 60,000 a decade earlier, driven largely by the technology boom.

Asia has a younger UHNW demographic than other regions, while North America has the oldest. Women accounted for 13% of Asia's UHNW population, the highest regional share despite remaining relatively low.

Female representation is projected to rise from 12% globally today to 19% by 2040, supported by broader wealth diversification, expanding opportunities for female entrepreneurs and rising intergenerational wealth transfers.

Financial services remains the dominant industry among UHNW individuals across all major regions, followed by business and consumer services.

Delhi is projected to be the world's fastest-growing UHNW city by 2030, alongside several emerging wealth hubs across Asia, the Pacific and the Nordic region.

Collectively, the global ultra-wealthy control $26 trillion in investable assets, spend $282 billion annually on luxury goods and services, and contribute $220 billion a year to philanthropy.