Vietnam wealth growth projected to double in five years

Vietnam is expected to see a significant increase in its wealthy population over the next five years. According to data presented by Nguyen Quang Duy of AIA Vietnam, the country currently has over 100,000 high-net-worth individuals (HNWIs) with assets of at least $1 million USD. This figure is projected to double by 2030, positioning Vietnam among the nations with the fastest-growing number of wealthy individuals globally.

Specifically, the number of ultra-high-net-worth individuals (UHNWIs) with assets exceeding $30 million USD is expected to rise from 1,233 to 1,960 by 2031, representing a 59% increase. This period marks a major wealth transfer phase, as assets accumulated by the first generation of entrepreneurs following the 1986 Doi Moi reforms begin to pass to the second generation.

Reports indicate that approximately 30% of total assets held by HNWIs will be transferred to the next generation over the next 25 years. AIA estimates that 75% of these wealthy clients view insurance as an essential tool for financial planning and wealth succession.