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Wealth in Turkey: Sizing the Market Opportunity

Wealth in Turkey: Sizing the Market Opportunity

Summary

Wealth in Turkey: Sizing the Market Opportunity analyzes Turkey'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.

Synopsis

  • 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 individuals' 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.
Reasons To Buy
  • How large is the HNW market in Turkey?
  • What is the penetration of affluent individuals in Turkey?
  • What is the current and future mix of asset class balances in Turkey?
  • How much of their wealth do Turkish HNW individuals invest offshore?
  • Which booking centers are used by HNW individuals to invest offshore?
Key Highlights

The Turkish wealth market has similar distribution patterns to many developing nations. A small percentage of the population is considered affluent, and of that an insignificant proportion is HNW. However, this small affluent population holds the vast majority of liquid assets in the market.

The Turkish retail savings and investments market has shown strong growth over the past six years, thanks to strong economic performance and high wage increases. Looking forward, growth prospects are expected to remain positive over the long term.

While almost three quarters of HNW assets in Turkey are held in traditional liquid investments, 28% of assets are held in alternative and property investments, with direct property accounting for the lion's share. Offshore investments are small in the country, however, with 9% of HNW individuals' portfolios held overseas.


  • Executive Summary
    • Key findings
    • Critical success factors
  • Sizing and Forecasting the Wealth Market in Turkey
    • Affluent individuals in Turkey accounted for 2% of the total adult population in 2014
      • The number of affluent individuals will grow by793 000 individuals between 2010 and 2018
      • Turkish affluent individuals held $275bn in liquid assets at the end of 2014
  • Drivers for Growth in the Turkish Wealth Market
    • The retail savings and investments market will see continued growth
      • Growth will slow after 2015 following a strong performance in recent years
      • The Turkish market is principally focused on deposits
    • The retail investments market will continue on its growth path
      • Deposit growth will continue to show volatility
      • The strong performance of the stock market boosted mutual fund and equity balances in 2014
  • HNW Investment Preferences
    • HNW individuals allocate 28% of their investible assets outside traditional investments
      • Allocations in direct property account for the bulk of non-traditional investments
    • Turkish HNW individuals hold just 9% of their wealth offshore
      • Tax efficiency is the main driver for offshore investment
      • The majority of Turkish HNW offshore wealth is booked through the Channel Islands and the Middle East
  • Appendix
    • Abbreviations and acronyms
    • Supplementary data
      • Table Total Turkish adult population by asset band (000s), 2010-14
      • Table Total Turkish adult population by asset band (000s), 2015e-18f
      • Table Turkey: onshore liquid assets by asset band ($bn), 2010-14
      • Table Turkey: onshore liquid assets by asset band ($bn), 2015e-18f
    • Definitions
      • Affluent
      • Domicile
      • Double taxation agreement
      • HNW
      • Liquid assets
      • Mass affluent
      • Onshore
      • Residency
      • TIEAs
    • Methodology
      • Verdict Financial's 2014 Global Wealth Managers Survey
      • Verdict Financial's 2013 Global Wealth Managers Survey
      • Global Wealth Model methodology
      • Global Retail Investments Analytics methodology
        • Table Turkish lira-US dollar exchange rate, December 31, 2014
    • Bibliography
    • Further reading

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