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Targeting Expatriates in Wealth Management - Asia-Pacific

Published by: Datamonitor

Published: Jun. 2, 2006 - 45 Pages


Table of Contents


CHAPTER 1 INTRODUCTION

What is this report about?

Who is the target reader?




CHAPTER 2 THE MARKET OPPORTUNITY

There are three key reasons why financial instiitutions should consider targeting expatriates


Expats have differentiated needs


Remittance services

Offshore investment

Other expatriate needs


Expatriate populations around the globe are large


Australia is home to the largest numbers of expatriates in this study

Singapore is popular with South Asians

Japan a popular destination for Chinese


There are significant proportions of wealthy individuals among expatriate populations


The number of wealthy expatriate around the region





CHAPTER 3 COMPETITIVE DYNAMICS

There are four ways in which financial institutions are targeting Expatriates around the globe


Targeting inbound expats


St.George Bank targeting expatriates in Australia

Coutts has an 'inpatriate' service


Targeting 'home-country' expatriates in overseas markets


ICICI grabs an opportunity in the UK market

Indian bank Indusind is looking to tie up with several overseas banks in an effort to target expatriate Indians


Targeting a particular expatriate segment


SG Private Bank is building a regional business targeting NRIs


General offering of expatriate services overseas


HSBC International's expatriate offering





CHAPTER 4 APPENDIX

Data

Definitions


AAGR

CAGR

Gini index

Liquid assets

Liquid asset bands


Research methodology

The Global Wealth Model


The UK sub model

Asia-Pacific sub model

Forecasting methodology

Datamonitor's wealth numbers compared with others' numbers


Bespoke Wealth Market Sizing

Further reading


Datamonitor Asia-Pacific Wealth Reports

Datamonitor Asia-Pacific Insight Reports

Datamonitor Global Wealth Service: Competitor Tracking


Datamonitor Financial Services Consulting

Asia-Pacific contacts




List of Tables

Table 1: Number of expatriates by country and region, 2005

Table 2: Proportion of expatriate and domestic populations considered mass affluent and high net worth, 2005

Table 3: Number of expatriates in Australia, Japan and Singapore by country of origin, 2005

Table 4: Wealth markets that have been modeled using the Global Wealth Model




List of Figures

Figure 1: Country of origin of survey respondents

Figure 2: Money transmission is clearly an important service offering for expatriates around the world

Figure 3: Investment advisory services offered by an offshore bank are considered important

Figure 4: Understanding of income tax position is a large concern for expatriates

Figure 5: The tax or legal implications of buying property abroad are of concern to expatriates

Figure 6: In general all investment services were deemed to be useful, but portfolio management, property investment and collective investments were the most popular

Figure 7: Tax planning and advice were considered the most important advisory and planning services that an offshore bank could provide to expatriates

Figure 8: Expatriates were less interested in insurance products. Private health insurance was considered the most important for an offshore bank to provide

Figure 9: There are sizeable expatriate populations across the Asia-Pacific region hailing from the 19 countries studied

Figure 10: Large proportions of the expatriate populations in each country are either mass affluent of high net worth

Figure 11: The proportion of Expatriates that are considered affluent compared to the domestic population is favorable, particularly in China, Thailand and Indonesia

Figure 12: St.George Private Bank's 'Relocation & Migration Banking' service

Figure 13: The distribution of the Australian population, 2001

Figure 14: Coutts 'inpatriate' service

Figure 15: The ICICI/ Lloyds TSB tie-up in the UK targeted at Indians

Abstract

Introduction
The report looks at the targeting of expatriates with wealth management products and services. The report provides access to Datamonitor's Global Expatriate Study, which sizes expatriate populations by country of domicile and provides a breakdown of wealth level. The report looks at future opportunities for targeted services.

Scope
  • The report looks at the trend among financial institutions in targeting these individuals with wealth management products and services.
  • Datamonitor's Global Expatriate Study sizes the expatriate population by country of origin and domicile and provides a breakdown of wealth level.
  • The report analyses competitive dynamics in the expatriate space across the globe.
Highlights
Across Hong Kong, Singapore, the UAE and the UK, the majority of expatriates surveyed thought that investment advisory services were important. In the UK 64% of individuals surveyed said that investment advice was either very important or fairly important, compared to 84% in the UAE, 73% in Singapore and 78% in Hong Kong.

The concern over understanding tax implications associated with property investment was considered very or fairly important by an average of 77% respondents across the four countries studied. Respondents in the UK and the UAE found it of most concern with 80% stating it was very or fairly important.

Across the Asia-Pacific countries it is Chinese and UK expatriates that are the most prevalent, with 1.4 million and 1.2 million individuals respectively in the seven countries in this study. The next largest expatriate population originates from New Zealand with 0.5 million individuals.

Reasons to Purchase
  • This report is an indispensable guide to those looking to target expatriates anywhere in the Asia-Pacific region.
  • With clear exposition of market opportunities and threats, the report is an effective aid for all parties in planning competitive strategy.
  • Find out how large the expatriate populations are in the AP region and their breakdown by wealth level.


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