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Time of India
5 days ago
- Business
- Time of India
From owning to accessing: How Hype Luxury captures global high-end travel
The whisper of a private jet, the roar of a supercar, the gentle sway of a yacht at sea, these are no longer far-off dreams, but part of a fast-changing reality in the booming world of luxury. Expected to reach nearly USD 4.8 trillion globally by 2032, the luxury market is transforming, moving away from tradition and leaning into personalised, digital-first experiences, especially among India's rising class of affluent consumers. At the heart of this shift is Hype Luxury , a digital-first platform that's redefining how the world experiences high-end travel. With on-demand access to an impressive global fleet, 21,000 private jets, 34,000 luxury cars, 18,000 helicopters, and 2,300 yachts, Hype Luxury turns elite mobility into a seamless, concierge-driven experience. With a 73 percent repeat customer rate, the brand is now setting its sights on bold expansion across the Middle East and Europe. Nirvik Singh , a seasoned global business leader, has recently joined as chairman of Hype Luxury. In a recent conversation, Singh spoke about how luxury is shifting from ownership to access, driven by a new generation that values personalisation , technology, and sustainability. In India, he noted, high-net-worth individuals are increasingly digitally savvy and globally minded, seeking luxury that's effortless, exclusive, and always at their fingertips. Edited Excerpts: What are the key growth trends you're observing in luxury mobility both in India and globally, and how will Hype Luxury leverage these specific trends for its expansion? Globally, luxury mobility is transitioning from ownership models to curated access. According to Fortune Business Insights , the global luxury travel market was valued at USD 2,509.71 billion in 2024 and is projected to reach USD 4,827.68 billion by 2032, with a compound annual growth rate of 8.56%. Allied Market Research data shows the market valued at $890.8 billion in 2023, projected to reach $2149.7 billion by 2035 at a CAGR of 7.4%. This signals a growing demand for premium, seamless travel experiences that are personal, tech-enabled, and sustainable. In India, we're seeing a rise in digital-first, globally influenced Indian HNIs who want luxury experiences that are frictionless and meaningful, contributing to this global growth trajectory. Hype Luxury is positioned to scale within this context, serving the new-age global consumer with an integrated ecosystem across luxury cars, private jets, and yachts. Our approach combines high-touch service with digital agility, across key regions like India, the UAE, the UK, and Europe. What will be the core pillars of Hype Luxury's marketing and advertising strategy to reach your global UHNWI clientele and effectively communicate your unique value proposition across private jets, supercars, and yachts? Hype Luxury's marketing is designed around precision and discretion. For our UHNWI audience, we rely on curated storytelling, high-trust digital platforms and strategic media partnerships. Every element of our communication reflects exclusivity, ease, and purpose. Rather than mass campaigns, our focus is on high-value content placements, CXO influencer advocacy, and B2B2C partnerships with top-tier luxury brands, hospitality groups, and financial institutions. The intent is to stay top-of-mind without being loud—to always feel accessible, never advertised. Hype Luxury operates across private jets, supercars, and yachts – could you provide a breakdown of how each segment contributes to your overall revenues, and elaborate on the growth trajectory you're observing for each of these categories specifically in the Indian market, compared to other global markets? In India, luxury cars are currently our highest revenue contributor, accounting for nearly 80 percent of our domestic business. There's a strong and growing demand from high-net-worth individuals for curated, premium experiences, especially around weddings, corporate events, and executive travel. This demand mirrors global trends in luxury travel, where personalisation and exclusivity are key drivers. What's particularly notable in India is that this demand isn't limited to major metropolitan areas. We're witnessing a significant surge in bookings from tier II and tier III cities, fueled by the rapid expansion of the SME sector and a generational shift. Younger members of affluent families are actively seeking experiential luxury over traditional ownership. Globally, we're seeing faster growth in private jet and yacht bookings—especially in markets like the UAE and UK, where clients are increasingly investing in privacy, safety, and exclusive access. Private jets are our fastest-growing segment overall, while yachts represent the highest value-per-transaction category, particularly in seasonal luxury tourism zones. As Hype scales, we expect India to remain strong in luxury cars, with international markets driving growth across our aviation and nautical verticals. Which markets are currently contributing most to your revenue, and what are your projections for market growth by the end of the year? Currently, UAE and India are contributing similarly, each accounting for approximately 40-45 percent of our business, with Europe at about 10 percent. By the end of this year, we anticipate the European and Middle Eastern businesses combined will surpass the Indian business in revenue contribution. This is because Europe will largely be an aeroplane business, with a higher ticket size, whereas India's market is predominantly cars, which have smaller ticket sizes. The Middle East is a mix of both. We are actively building our senior leadership team in Europe to drive this growth. As a 'digital-first' platform in the luxury sector, what specific digital innovations is Hype Luxury implementing to adapt to ongoing digital transformation and enhance the 'seamless digital experience' for your elite clientele? Hype is designed as a digital-native luxury experience. From intelligent fleet management to predictive pricing and instant concierge bookings, our platform uses AI and machine learning to adapt to each user's preferences. We are integrating real-time availability tracking, geo-fenced service activation, and advanced payment solutions including multi-currency wallets. Our mobile interface is constantly optimized for UX, ensuring that the customer journey—from discovery to review—is seamless, secure, and intuitive. How do you plan to refine and elevate the customer experience (CX) to consistently deliver the seamless, discreet, and personalised luxury that these prominent figures expect from Hype Luxury? Our CX framework is built on three pillars: discretion, customisation, and continuity. Each customer receives access to a dedicated relationship manager who understands their personal style, preferences, and needs. We are introducing tailored packages, direct fleet previews, real-time itinerary assistance, and post-service concierge follow-ups. The objective is not just to meet expectations but to consistently anticipate them. In luxury, it's often the smallest detail that defines the biggest difference. Given your UHNWI clientele and global expansion, how do you balance optimising commissions for growth while keeping them competitive and attractive for luxury access worldwide? Our commission model is dynamic and calibrated for both partner retention and end-client value. We adjust based on asset type, location, peak demand periods, and loyalty metrics. Because our infrastructure is digital and agile, we are able to offer high-value services at competitive margins. This not only keeps our partners incentivized but ensures our pricing remains compelling for HNWIs across markets. Are there any alternative revenue models you are exploring to diversify and enhance Hype Luxury's profitability in the future? Yes, we are actively exploring private memberships, luxury lifestyle subscriptions, and enterprise licensing models. One avenue involves developing white-labeled versions of our tech platform for boutique travel or hospitality partners. We are also looking at strategic affiliate revenue through exclusive partnerships—for instance, curated luxury stays, elite concierge services, and co-branded experiences with global institutions. These models deepen engagement while diversifying revenue without adding fixed asset overhead. In terms of strategic partnerships, what types of alliances are you actively seeking to build that will enhance Hype Luxury's existing 'luxury mobility ecosystem,' and how will these partnerships contribute to both market reach and service innovation? We are seeking partnerships with luxury hospitality brands and fine dining experiences serving UHNWIs, and elite travel advisors. These alliances allow us to offer end-to-end luxury ecosystems—from jet to resort to local chauffeur—on a single digital touchpoint. Additionally, we're exploring partnerships in sustainable mobility and clean energy, which will help evolve our long-term vision of eco-conscious luxury experiences. What is your primary strategic focus as chairman, and what key actions will you take first to drive Hype Luxury's global expansion? My focus is on scaling with intention. The first steps include strengthening operational governance, expanding global leadership, and building deeper cross-market fleet alliances. We're also working to institutionalise the brand through repeatable excellence—ensuring that every new market we enter delivers the same seamless, curated experience that defines Hype Luxury in India. I bring to the table a framework for operational clarity, cultural sensitivity, and strategic momentum that complements the bold founder vision laid out by Raaghav. Together, we're building a brand that isn't just global—but timeless in its relevance.
Barnama
20-06-2025
- Business
- Barnama
Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends As Southeast Asia's Premier Destination
Singapore, Thursday, 20 June (Bernama) -- Vista, the world's leading private aviation group and parent company of VistaJet and XO, hosted a panel discussion on Ultra-High-Net-Worth Trends in Singapore, bringing together influential voices from across its partner network within the city's luxury ecosystem. The invitation-only event explored the evolving trends of luxury among Southeast Asia's ultra-high-net-worth-individuals (UHNWIs) whose lifestyle choices are increasingly driven by meaning, mobility, and long-term value. Held against the backdrop of rising demand for premium experiences and increased regional UHNWI mobility, the panel featured insights from:
Yahoo
19-06-2025
- Business
- Yahoo
Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier Destination
Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier Destination Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier DestinationPress images available for download here. Singapore, Thursday 19 June 2025 – Vista, the world's leading private aviation group and parent company of VistaJet and XO, hosted a panel discussion on Ultra-High-Net-Worth Trends in Singapore, bringing together influential voices from across its partner network within the city's luxury ecosystem. The invitation-only event explored the evolving trends of luxury among Southeast Asia's ultra-high-net-worth-individuals (UHNWIs) whose lifestyle choices are increasingly driven by meaning, mobility, and long-term value. Held against the backdrop of rising demand for premium experiences and increased regional UHNWI mobility, the panel featured insights from: Amy Yang, Vice President, Marketing – APAC & IMEA, Vista Christine Li, Head of Research Asia Pacific, Knight Frank Ewa Stachurska, Chief Marketing & Sustainability Officer, Sanlorenzo Asia Pacific The speakers examined the burgeoning demand for private aviation, luxury real estate, and superyachts which highlight Singapore's status as a premier destination and how brands are responding to the rising desire for privacy and personalization. Vista's Amy Yang shared, 'With the rising trend of bleisure travel — where business and leisure are seamlessly intertwined — Singapore has consistently ranked among the top destinations for Vista's clientele. Its unique blend of Asian cultures and its status as an international business hub make it an ideal gateway for today's global travelers. At a time where excellence standards and consistency are paramount — whether flying long-haul between Asia and the United States aboard the industry-leading Global 7500 or regionally within Europe or the Middle East on the popular super-mid-size fleet — Vista is uniquely positioned to meet this growing demand with a global infrastructure that spans 96% of the world.' In 2024, VistaJet further saw a 10% growth in its Memberships in Southeast Asia, whereas XO — Vista's instantaneous and real-time priced private jet marketplace — saw doubled flight traffic year-on-year growth in Singapore. Knight Frank's Christine Li reveals: "According to The Wealth Report 2025, Asia Pacific is predicted to account for 47.5% of the global UHNW population created between 2025-2028. The inaugural Family Office survey displays an increasing trend to view prime real estate as an attractive combination of steady income generation and capital growth potential. Confidence in Singapore's prime assets are underscored by the significant UHNWI commercial property transactions for 2024/2025 — notably US$520 million for the 21 Collyer Quay office building and US$43 million for River Valley Apartments enbloc. This blend of strategic diversification, expectations for long-term asset appreciation, and sustained high-value investment activity, solidifies Singapore's position as a premier destination for sophisticated capital.' Sanlorenzo Asia Pacific's Ewa Stachurska adds: 'Singapore is emerging as a premier yachting hub with 8 boat clubs and marinas and 4000 boats and yachts stationed in the city. Coupled with Southeast Asia's extensive coastlines that are easily accessible by yachts with adequate range and storage capacity, this creates a unique environment for the rising demand of highly customized superyachts. This trend reflects a broader shift towards exceptional purchases that offer not only immediate enjoyment but also generational significance, and purpose underscoring the evolving aspirations of Asia's affluent clientele. Sanlorenzo Asia Pacific prioritizes intimate activations and experiences with like-minded yacht owners at the Sanlorenzo Elite community, ensuring the holistic customer journey is complete in discreet elegance and effortless style.' Singapore: Rising Capital of Premier Experiences With its concentration of wealth, political stability and service excellence, Singapore is emerging as Southeast Asia's main hub for luxury experiences and financial conferences. This is evidenced by the three-digit growth figures in Vista's flight traffic during key event periods. In comparison with the daily average of flight traffic in Singapore across 2024, a tremendous 362% increase was seen during the Taylor Swift Eras tour in Singapore due to the fact that this was the singer's sole stop in Southeast Asia for her global concert. The Singapore Grand Prix also instigated a 168% surge in daily average flight traffic while it coincided with other major financial events in the city, such as The Milken Institute Asia Summit and Global Trade Review Congress and more. On the other hand, the Singapore Yachting Festival supported a 46% higher business jet traffic as compared to the daily average for the year. Southeast Asia's Emerging Luxury Destinations While Singapore remains the anchor of Southeast Asia's luxury ecosystem, Vista shared the hidden gems amongst its exclusive flight destinations in 2024, locations that fuse nature, culture and exclusivity. Kuching, Malaysia — the international gateway to Borneo attracts luxury eco-tourists keen to explore the island's ancient rainforests and orangutan sanctuaries. Da Nang, Vietnam — a coastal city gaining traction for its resort offerings, vibrant culinary scene and proximity to UNESCO sites. Sorong, Indonesia — the preferred entry point to Raja Ampat, offering access to one of the world's most pristine and remote marine reserves. Meanwhile, established favourites such as the Maldives, Phuket and Bali continue to see robust traffic, with Phuket in particular benefitting from global pop culture visibility, most notably through HBO's The White Lotus, which set its third season in Thailand. According to Knight Frank, Manila has emerged as the world's fastest-growing market for prime residential prices in 2024. In Malaysia, government incentives have further strengthened the residential property sector, making it an attractive option for those seeking both personal homes and long-term value appreciation. Meanwhile, foreign buyers continue to shape Bangkok's prime real estate landscape, with Chinese investors at the forefront of this growing demand. Based on the findings from Sanlorenzo Asia Pacific, the superyacht market in Singapore and Southeast Asia is experiencing dynamic growth, driven by a rapidly expanding population of ultra-high-net-worth individuals who increasingly seek passion assets that combine lifestyle, legacy, and long-term value. Unlike traditional markets, wealth in the region is largely newly created and is now being passed on to a younger generation that prioritizes experiential discreet luxury and family-oriented investments. Aligned with trends in yachting and luxury real estate, private and exclusive travel experiences are increasingly sought after by Vista Members. With access to the most prestigious establishments through its global network of over 600 partners across 35 categories — from private island villas to yachting services, fine art to automobiles — Vista's Private World offers bespoke journeys and itineraries tailored to each client's passions. At Vista, meeting the demands of UHNWIs extends far beyond the cabin — it encompasses every aspect of in Member's life, before they step onboard, and long after they land. – ENDS – InformationVista | press@ About Vista Vista Global Holding's (Vista) subsidiaries provide worldwide business flight services. A global group headquartered at the DIFC in Dubai, Vista integrates a unique portfolio of companies offering asset free services to cover all key aspects of business aviation: guaranteed and on demand global flight coverage; subscription and membership solutions; trading and management services; and cutting-edge mobility technology. Innovating the industry for 20 years through continuous investment in people, technology and infrastructure, the Group's mission is to lead the change to provide clients with the most advanced flying services at the very best value, anytime, anywhere around the world. Vista's knowledge and understanding of all facets of the industry deliver the best end-to-end offering and technology to all business aviation clients, through its VistaJet and XO branded services and duly licensed carriers. Vista is not a direct air carrier and does not operate or charter flights. More Vista information and news at About VistaJetVistaJet is the first and only global business aviation company, leading the industry by setting higher standards of service and safety for over 20 years. On its fleet of silver and red business jets, VistaJet has flown corporations, governments and private clients to 207 countries and territories, covering 96% of the world. Founded in 2004, the company pioneered an innovative business model where customers have access to an entire fleet whilst paying only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet's signature Program membership offers clients a bespoke subscription of flight hours with guaranteed access to the Vista Members' fleet of over 300 aircraft around the world, to fly them anytime, anywhere. VistaJet is part of Vista — the world's first private aviation ecosystem, integrating a unique portfolio of companies offering asset free solutions to cover all key aspects of business aviation. More VistaJet information and news at About XOXO is revolutionizing the private aviation industry by combining data intelligence with distinct service, allowing clients to book a flight in seconds to anywhere in the world. Built on 20 years of innovation and skill, XO is the world's premier aviation network. XO has created an open future for private aviation with more transparency, efficiency and accessibility than ever before. Members and clients have access to over 2,400 aircraft around the world, including the Vista Members' fleet, covering the full spectrum of cabin classes. Flyers can book an entire aircraft or individual seats through the XO mobile app, website or an XO Aviation Advisor. XO is part of Vista — the world's first private aviation ecosystem, integrating a unique portfolio of companies offering asset free solutions to cover all key aspects of business aviation. More XO information and news at Attachments 20250619_FINAL_VISTA_PR_SGPANEL Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier DestinationSign in to access your portfolio
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Business Standard
05-06-2025
- Business
- Business Standard
India adds over 33,000 millionaires in a year: How the rich allocate money
India witnessed a significant wealth boom in 2024, adding more than 33,000 new millionaires in a single year, according to the World Wealth Report 2025 by Capgemini Research Institute. The number of High-Net-Worth Individuals (HNWIs) in India rose by 5.6%, bringing the total to 378,810, up from around 345,000 in 2023. This surge comes alongside an 8.8% rise in total HNWI wealth, now pegged at $1.5 trillion, marking India as one of the fastest-growing wealth hubs globally—outpacing major economies including China. Who Are These Millionaires? Most of India's new millionaires fall under the category of 'Millionaires Next Door'—individuals with investable assets between $1 million and $5 million. India had 333,340 such individuals by the end of 2024, controlling $628.93 billion in wealth. On the ultra-wealthy end, India is now home to 4,290 Ultra HNWIs, defined as those with over $30 million in investable assets. Their collective wealth reached $534.77 billion in 2024. What's Driving This Growth? Equity Market Surge: India's Sensex rose 8.2% in 2024, pushing portfolio values higher for wealthy investors. Domestic Consumption & Entrepreneurship: Rapid digitisation, booming startup culture, and sectoral diversification—especially in tech, fintech, and infrastructure—fueled individual wealth creation. Inheritance Wave: As much as 50% of Indian HNWIs are expected to inherit wealth by 2030, with that number growing to 93% by 2040, per the report. The Capgemini Research Institute's World Wealth Report 2025, also revealed that the global high-net-worth individuals (HNWIs) population rose by 2.6% in 2024. This increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments , such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the US fuels wealth increase A favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. APAC high-net-worth individual (HNWI) wealth and population show sustained growth India saw an 8.8% rise in HNWI wealth and a 5.6% growth in population, outpacing global peers including China. Market indicators including India's Sensex (up 8.2%) registered equity market gains. Total HNWI Wealth and Population India had 378,810 millionaires at the end of 2024 with a total wealth of $1.5 trillion. Japan had 3989820 millionaires at the end of 2024 with a total wealth of $9.9 trillion. China had 1502460 millionaires at the end of 2024 with a total wealth of $7.9 trillion. India had 4290 ultra HNWIs at the end of 2024 with a wealth of $534.77 billion. China had 22780 ultra HNWIs at the end of 2024 with a wealth of $3.6 trillion. Japan had 13620 ultra HNWIs at the end of 2024 with a wealth of $1.01 trillion. % of the surveyed Indian HNWIs inheriting wealth cumulatively as per HNWI survey, n=6,472 50% by 2030 77% by 2035 93% by 2040 If you're planning your family's financial future, consider this: 50% of Indian HNWIs will inherit their wealth by 2030, with that number climbing to 93% by 2040. This makes inheritance and estate planning critical. Financial advisors are seeing more interest in offshore investments, trust structures, and tax planning, especially among Gen X and Gen Z heirs. India's Next-Gen Rich want more than just money India's next-gen millionaires are digitally native and globally focused—and they're reshaping wealth management (WM): 85% of Indian next-gen HNWIs plan to switch their parents' WM firms within the next 1–2 years. 51% cite missing services on their preferred platforms, and 41% complain about poor digital tools. In short: Gen Z and millennial millionaires want customized, tech-first wealth solutions—and they're willing to move firms or follow trusted relationship managers (67% would switch firms with them). Offshore investments are no longer just about tax 98% of India's next-gen HNWIs plan to boost offshore assets by 2030. Why? Better investment choices (55%), stronger advisory services (65%), and more stable markets and regulations abroad (49%). Even younger families are exploring global real estate, tech startups, and ESG-aligned funds as diversification tools—not just tax havens. "As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs," said the report.
Yahoo
04-06-2025
- Business
- Yahoo
North America High-Net-Worth Individual Population Surges, While Europe and Middle East Shrink: Capgemini Report
U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 million Ultra-high net worth individual population rises by 6.2% worldwide High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies PARIS, June 04, 2025--(BUSINESS WIRE)--The Capgemini Research Institute's World Wealth Report 2025, published today, reveals the global high-net-worth individuals1 (HNWIs) population rose by 2.6% in 2024. Now in its 29th edition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the U.S. fuels wealth increaseA favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. Next-gen HNWIs seek wealth management firms that align with investment prioritiesWealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD3 will change hands over the next two decades, creating the next generation of HNWIs4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040. "The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector," said Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit and Group Executive Board Member. "The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees." As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs. To attract next-gen HNWIs, wealth management firms must rethinkThe report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including: Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails Insufficient support from wealth management firms makes advisors a flight riskAccording to the report, one-in-three advisors express dissatisfaction with their firms' lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients. Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040. As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes. Read the full report: Sailing through the Great Wealth Transfer Report MethodologyThe World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets. About CapgeminiCapgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion. Get The Future You Want | About the Capgemini Research InstituteThe Capgemini Research Institute is Capgemini's in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times - an industry first. Visit us at ____________________ 1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M). 2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets 3 UBS, "Global Wealth Report 2024" 4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as "next-gen HNWIs" to signify the generational shift in HNWI wealth View source version on Contacts Press contact: Fahd Pasha Tel.: +1 647 860 3777 E-mail: Sign in to access your portfolio
