Asia-Pacific Family Offices Expansion Outpaces North America and Middle East by 2030
Expansion of Family Offices in Asia-Pacific
According to Deloitte’s report, family offices in Asia-Pacific are expected to surge by 40 per cent to 3,200 by 2030. This rate of growth significantly outpaces North America’s projected 32 per cent increase to 4,190 offices.
Market Dynamics and Tax Incentives
The report highlights that authorities in Hong Kong might enhance their appeal through attractive tax breaks and incentives to attract family offices. Meanwhile, Singapore and other financial hubs are also vying for capital inflows and employment opportunities.
Global Family Office Growth
- 10,700 family offices globally by 2030
- Wealth concentration driving interest in customized investment strategies
- Shift in wealth dynamics due to generational transfers
Market Insights
Family offices' combined assets are projected to reach US$5.4 trillion globally, underscoring their receiving influence in wealth management and investment markets.
North America’s Position
- North America holds estimated assets of US$1.3 trillion
- Europe follows with US$949 billion
- Asia-Pacific at US$590 billion
- Middle East with US$159 billion
As existing family businesses transition ownership, the demand for sophisticated wealth management solutions will rise, pushing further evolution within this sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.