Real Estate Investor Magazine South Africa November 2018 | Page 56

UK WEALTH REPORT
Understanding
the UK economy -
5th largest in the world!
T
he  AfrAsia Bank UK 2018 Wealth Report  provides
insights on wealth trends in the United Kingdom over
the past 10 years, with projections for the next 10 years.
The report also provides comprehensive wealth breakdowns
for the wealthiest 20 cities in the UK. Plus, the report also
examines local High Net Worth Individuals (HNWI’s) trends
including the most popular universities, degrees, sectors, cities
and suburbs for millionaires (HNWIs) in the UK.
There are approximately 65 million people living in the
United Kingdom. London is the largest city in the country
and its main economic hub. The UK is the 4th largest wealth
market in the world (in terms of total wealth held) after USA,
China and Japan. Notably, it ranks ahead of Germany on this
measure. 
Private wealth held by all the individuals living in the UK
amounts to US$9.9 trillion. Around US$3.6 trillion (36%) of
this is held by HNWIs.
The wealthiest cities in the UK are listed below. Note: “Total
wealth” refers to the private wealth held by all the individuals
living in each city. It includes all their assets (property, cash,
equities, business interests) less any liabilities.
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NOVEMBER/DECEMBER 2018 SA Real Estate Investor Magazine
The Top 3
• London: Total wealth held in the city amounts to US$2.7
trillion. The makes London the 2nd wealthiest city in
the world (after New York). The most affluent suburbs
in London include the likes of: Knightsbridge, Belgravia,
Richmond and Hampstead. Major sectors in the city
include: financial services (banks, wealth managers),
professional services (law firms, consultancies), media (TV,
entertainment, news, publishing), IT and real estate.
• Edinburgh: Total wealth held in the city amounts to
US$315 billion. Edinburgh is the financial capital of
Scotland and the 2nd wealthiest city in the UK. New Town
in Edinburgh is especially affluent.
• Manchester & Trafford: Total wealth held in the area
amounts to US$273 billion. Manchester is the main
financial and business hub in Northern England. It is also
one of the fastest growing cities in the UK (in terms of
wealth growth over the past 10 years). Major sectors in the
city include: financial services, manufacturing, retail and IT.
This report is the result of New World Wealth’s extensive