Wealth in Belgium: Sizing the Market Opportunity
Wealth in Belgium: Sizing the Market Opportunity analyzes Belgium's wealth and retail savings and investments markets, with a particular focus on the HNW segment. Analysis is based upon our 2014 Global Wealth Managers Survey, our Global Wealth Markets Analytics, and our Global Retail Investments Analytics.
Reasons To Buy
- Size your potential client base using our proprietary data, presenting the number of affluent individuals by liquid asset band to 2018.
- Understand the drivers behind the growth of the affluent market, such as the wider macroeconomic environment and investment preferences.
- Quantify HNW asset allocations into non-liquid assets such as property. Find out how much of their investible assets are held offshore.
- Export the graphics from the dashboard, or if you are more at ease using Excel, export the data into your own worksheets.
- How large is the HNW market in Belgium?
- What is the penetration of affluent individuals in Belgium?
- What is the current and future mix of asset class balances in Belgium?
- How much of their wealth do Belgian HNW individuals invest offshore?
- Which booking centers are used by HNW individuals to invest offshore?
Belgium has a total affluent population of 2.7 million individuals, or 30% of the total adult population. Of these only 59,200 or 0.7% can be considered HNW, but they hold over a quarter of the total wealth.
The total Belgian retail savings and investments market has been growing in recent years, recovering well from the slump caused by the financial crisis. Looking forward, growth prospects for the total retail savings and investments market are expected to improve in line with the broader economic situation.
Belgian HNW individuals invest a negligible percentage of their total liquid assets offshore, due to a complex combination of historical, cultural, and legislative reasons and in line with many other European countries such as France and the Netherlands.
- Executive Summary
- Key findings
- Critical success factors
- Sizing and Forecasting the Belgian Wealth Market
- 59,200 of Belgium's 2.7 million affluent individuals are HNW
- Affluent individuals accounted for 30% of the total adult population in 2014
- Belgium's HNW account for 0.7% of individuals but hold 26.3% of liquid assets
- Affluent individuals held $568.2bn in liquid assets in 2014
- Drivers for Growth in the Belgian Wealth Market
- The total retail savings and investments market is set to stabilize after 2016
- Deposits and bonds account for over 68% of the Belgian savings and investments market
- Economic growth prospects will have a direct impact on wealth
- Low GDP growth and interest rates are limiting the growth of bonds
- The performance of the stock market has hit equities and mutual funds hard
- HNW Investment Preferences
- HNW individuals allocate over a fifth of their investible assets outside traditional investments
- Non-traditional investments still need to be conservative to attract HNW Belgian investors
- Belgian HNW individuals hold limited offshore investments, preferring to stay "close to home"
- Tax and client anonymity are the biggest drivers of offshore investment in Belgium
- Table Belgian personal tax rates, 2014
- Belgian HNW individuals tend to book their assets in European centers
- Abbreviations and acronyms
- Supplementary data
- Table Belgium: adult population segmented by affluent category and asset band (000s), 2010-14
- Table Belgium: adult population segmented by affluent category and asset band (000s), 2015e-19f
- Table Belgium: total liquid wealth segmented by affluent category and asset band ($bn), 2010-14
- Table Belgium: total liquid wealth segmented by affluent category and asset band ($bn), 2015e-19f
- Liquid assets
- Mass affluent
- Exchange of information
- 2014 Global Wealth Managers Survey
- Global Wealth Model methodology
- Global Retail Investments Analytics methodology
- Table Euro to US dollar exchange rate, December 31, 2013 and December 31, 2014
- Further reading