Day: October 10, 2023

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The 2023 Centi-Millionaire Report: The Emergence of a New Class of Super-Rich

LONDON, Oct. 10, 2023 (GLOBE NEWSWIRE) — There are currently 28,420 centi-millionaires in the world, more than double the number 20 years ago, and an increase of 12% compared to this time last year, according to the 2023 Centi-Millionaire Report released today by wealth and investment migration advisors Henley & Partners and featuring exclusive data from global wealth intelligence firm New World Wealth. This fast-growing global elite of highly influential super-wealthy movers and shakers boast investable assets of USD 100 million or more.

As outlined in the inaugural report last year, at a country level, most centi-millionaires (or ‘centis’) are concentrated in the USA (38%), followed by the large emerging markets of China and India. One third of the world’s centi-millionaire community live in 50 key cities across the globe, with New York City wearing the crown with 775 resident centi-millionaires.

Dr. Juerg Steffen, CEO of Henley & Partners, says the USD 100 million plus band represents the best definition in today’s world of what it means to be ‘super-wealthy’. “Not long ago, in the late 1990s, USD 30 million was considered by most banks as the fortune that was needed to meet this status. However, asset prices have risen significantly since then, making USD 100 million the new benchmark.”

Top centi cities

Hot on the heels of NYC in first place comes the Bay Area with 692 resident centi-millionaires, followed by Los Angeles with 504 centis. This super-rich cohort has grown by just over 5% in the Big Apple over the past 12 months, compared to 11% in the Bay Area. Chicago also makes it into the Top 10, securing 9th place with 286 centi-millionaires, but this is a significant drop of nearly 16% compared to last year.

Overall, the USA has 12 cities in the Top 50, with a combined total of 3,311 centis, representing 11.7% of the world’s centi-millionaire population as of June 2023.

By contrast, the UK has only one city in the Top 50, London, which comes in 4th place with 388 centi-millionaires, representing 1.4% of the world’s centi population. Once the global center of affluence and influence, London appears to have taken a dip. A year ago, there were 406 centis in the UK’s capital city — a loss of 4.4% in just 12 months.

There is impressive representation from Asia in the upper rankings, with four Asian cities and territories among the world’s Top 10 centi-millionaire hotspots. Mainland China has two Top 10 cities: Beijing is 5th with 365 centi-millionaires and Shanghai is 6th with 332. Singapore follows in 7th place with 330 centis while Hong Kong (SAR China), in 8th place, is home to 305 centi-millionaires. Paris and Ile-de-France come in 10th place, boasting 280 resident centi-millionaires between them.

Growth forecast to flourish in Global South

Of the Top 50 cities, the e-commerce hub of Hangzhou in China is expected to see the highest growth in its centi-millionaire population in the next decade with a projected 95% increase, closely followed by the prominent tech hub, Shenzhen (88%).

The emerging global business center of Riyadh in Saudi Arabia and India’s largest commercial hub Delhi are projected to see the 3rd-highest growth of 85% each between now and 2033, while financial capital Mumbai is forecast to enjoy an 80% growth in its centi-millionaire community. Tech-friendly Austin in the USA also has a very strong growth projection of 84% by 2033.

Dubai, with its vibrant and diversified economy, is not far behind Mumbai, with centi-millionaire growth of 78% projected over the next 10 years, followed by China’s main transport and trading nexus Guangzhou (76%), and the world’s most expensive city, Monaco (72%).

The numbers in Australia also look poised to increase sharply — by 67% in Melbourne, 60% in Sydney, and 57% in Perth. By contrast, centi-millionaire growth figures are forecast to be a sluggish 17% in Los Angeles, 12% in London, 6% in Chicago, and just 5% in Moscow.

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Centi-Millionaire Report 2023: O surgimento de uma nova classe de super-ricos

LONDRES, Oct. 10, 2023 (GLOBE NEWSWIRE) — Existem atualmente 28 420 centi-milionários no mundo, mais do dobro do número de há 20 anos e um aumento de 12% em comparação com o ano passado, de acordo com o Centi-Millionaire Report de 2023 divulgado hoje pelos consultores de migração de riqueza e investimento Henley & Partners e apresentando dados exclusivos da empresa global de inteligência de riqueza New World Wealth. Esta elite global, em rápido crescimento, de super-ricos altamente influentes, possui ativos investíveis de 100 milhões de dólares ou mais.

Tal como referido no relatório inaugural do ano passado, a nível nacional, a maioria dos centi-milionários (ou “centis”) concentra-se nos EUA (38%), seguidos dos grandes mercados emergentes da China e da Índia. Um terço da comunidade centi-milionária mundial vive em 50 cidades-chave de todo o mundo, com a cidade de Nova Iorque a ostentar a coroa com 775 centi-milionários residentes.

Dr. Juerg Steffen, Diretor Executivo da Henley & Partners, afirma que o grupo de mais de 100 milhões de dólares representa a melhor definição, no mundo atual, do que significa ser “super-rico”. “Ainda não há muito tempo, no final dos anos 1990, a maioria dos bancos considerava que 30 milhões de dólares era a fortuna necessária para atingir este estatuto. No entanto, os preços dos ativos aumentaram significativamente desde então, fazendo com que 100 milhões de dólares sejam o novo valor de referência.”

Principais cidades centi

Logo a seguir a Nova Iorque, em primeiro lugar, vem a Bay Area com 692 centi-milionários residentes, seguida de Los Angeles com 504 centis. Este grupo de super-ricos cresceu um pouco mais de 5% na Big Apple nos últimos 12 meses, em comparação com 11% na Bay Area. Chicago também faz parte do Top 10, assegurando o 9º lugar com 286 centi-milionários, mas esta é uma queda significativa de quase 16% em comparação com o ano passado.

No total, os EUA têm 12 cidades no top 50, com um total combinado de 3311 centis, representando 11,7% da população centi-milionária do mundo em junho de 2023.

Em contrapartida, o Reino Unido tem apenas uma cidade no top 50, Londres, que surge em 4º lugar com 388 centi-milionários, o que representa 1,4% da população centi do mundo. Outrora o centro mundial de afluência e influência, Londres parece ter dado um mergulho. Há um ano, existiam 406 centis na capital do Reino Unido, o que corresponde a uma perda de 4,4% em apenas 12 meses.

A Ásia tem uma representação impressionante nas classificações superiores, com quatro cidades e territórios asiáticos entre os 10 melhores locais do mundo para centi-milionários. A China continental tem duas cidades no top 10: Pequim é a 5ª com 365 centi-milionários e Xangai é a 6ª com 332. Segue-se Singapura, em 7º lugar, com 330 centis, enquanto Hong Kong (RAE da China), em 8º lugar, alberga 305 centi-milionários. Paris e a Ile-de-France estão em 10º lugar, com 280 centi-milionários residentes entre si.

Previsões de crescimento no Sul Global

Das 50 principais cidades, o centro de comércio eletrónico de Hangzhou, na China, deverá registar o maior crescimento da sua população de centi-milionários na próxima década, com um aumento previsto de 95%, seguido de perto pelo proeminente centro tecnológico de Shenzhen (88%).

Prevê-se que o emergente centro de negócios global de Riade, na Arábia Saudita, e o maior centro comercial da Índia, Deli, registem o 3º maior crescimento, de 85% cada, até 2033, enquanto a capital financeira, Mumbai, deverá registar um crescimento de 80% na sua comunidade de centi-milionários. A cidade de Austin, nos EUA, amiga da tecnologia, também tem uma projeção de crescimento muito forte de 84% até 2033.

O Dubai, com a sua economia vibrante e diversificada, não fica muito atrás de Mumbai, com um crescimento de 78% de centi-milionários previsto para os próximos 10 anos, seguido do principal nexo de transportes e comércio da China, Guangzhou (76%), e da cidade mais cara do mundo, o Mónaco (72%).

Os números na Austrália também parecem estar preparados para aumentar acentuadamente: 67% em Melbourne, 60% em Sydney e 57% em Perth. Em contrapartida, o crescimento dos centi-milionários deverá ser de 17% em Los Angeles, 12% em Londres, 6% em Chicago e apenas 5% em Moscovo.

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Rapport Centi-Millionnaire 2023 : l’émergence d’une nouvelle classe de super riches

LONDRES, 10 oct. 2023 (GLOBE NEWSWIRE) — On compte aujourd’hui 28 420 centi-millionnaires dans le monde, soit plus du double qu’il y a 20 ans et 12 % de plus que l’année dernière à la même période. C’est ce que révèle le rapport Centi-Millionnaire 2023 publié ce jour par le cabinet de conseil en migration d’investissement Henley & Partners, en reprenant des données exclusives de la multinationale spécialisée dans l’étude de la richesse New World Wealth. Une élite mondiale de titans modernes en plein essor, et très influente parmi les super riches, détient des actifs de placement équivalents à 100 millions USD, voire au-delà.

À l’issue du premier rapport l’an dernier, l’analyse géographique montrait que la plupart des centi-millionnaires se concentrent d’abord aux États-Unis (38 %), suivis des grands marchés émergents que sont la Chine et l’Inde. Un tiers de la communauté mondiale de centi-millionnaires vit dans 50 villes clés du monde. En hébergeant 775 d’entre eux, New York en est la souveraine.

Dr Juerg Steffen, PDG de Henley & Partners observe que la tranche de ceux qui pèsent 100 millions USD ou plus traduit le mieux ce qu’on qualifie aujourd’hui de « super riche ». « Il n’y a si longtemps, à la fin des années 1990, les banques mesuraient la super richesse à l’aune d’un patrimoine de 30 millions USD, mais depuis, les fortunes sont allées crescendo pour fixer la nouvelle barre à 100 millions USD ».

Le top des villes aux yeux des centi-millionnaires

À la première place du podium, New York est talonnée par San Francisco et ses 692 centi-millionnaires à l’année, alors que Los Angeles se glisse à la troisième place avec son quota de 504. La poignée de super riches a grossi de près de 5 % au cours de l’année dernière dans la Grosse Pomme, contre 11 % pour la Baie. Chicago se hisse également à la 9e place du Top 10 avec ses 286 centi-millionnaires, mais essuie un déclin de quasi 16 % depuis l’année dernière.

Dans l’ensemble, douze cités américaines rejoignent le Top 50 en accueillant 3 311 centi-millionnaires, soit 11,7 % de la population mondiale des super riches telle qu’établie en juin 2023.

En revanche, une seule ville du Royaume-Uni s’y classe à la 4e place, Londres qui en abrite 388, soit une part de 1,4 % à l’échelle mondiale. Auparavant championne du monde de l’affluence et de l’influence, la City a perdu du terrain. Il y a juste un an, 406 centi-millionnaires vivaient à Londres — et reculent de 4,4 % en à peine douze mois.

L’Asie est fortement représentée et flirte avec le haut du classement, avec quatre villes et régions distinguées au Top 10 des foyers préférés des centi-millionnaires. En Chine continentale, deux villes rejoignent le Top 10 : Pékin à la 5e position avec 365, et Shanghai à la 6e avec 332. Dans leur sillage, Singapour grimpe à la 7e place avec 330 alors que Hong Kong (région administrative spéciale de la République populaire de Chine), à la 8e place, en accueille 305. Paris et la région Île-de-France arrivent en 10 e position, se partageant 280 super riches.

Prévisions de croissance dans les régions du Sud

La capitale chinoise de l’e-commerce figure au Top 50. Hangzhou est promise à la plus forte hausse en termes de population centi-millionnaire les dix prochaines années, avec des prévisions de croissance estimées à +95 %, suivie de près par la technopole Shenzhen et ses +88 %.

Riyad, en passe de devenir le premier centre d’affaires mondial d’Arabie Saoudite et Delhi, le plus important centre commercial de l’Inde vont à égalité connaître la 3e plus forte croissance (+85 %) d’ici 2033, alors qu’il est attendu une croissance de 80 % de la communauté centi-millionnaire dans la capitale financière qu’est Mumbai. Aux États-Unis, les prévisions de croissance sont également très fortes pour Austin l’industrielle : +84 % d’ici 2033.

Avec son économie florissante et diversifiée, Dubaï suit Mumbai de près, avec des prévisions de croissance de la population centi-millionnaire autour de 78 % sur les dix prochaines années. Viennent ensuite Canton (+76 %) et son économie rassemblée autour du commerce et du transport, et enfin Monaco (+72 %), qui reste la ville la plus chère du monde.

En Australie, il faut également s’attendre à observer de fortes hausses — +67 % pour Melbourne contre +60 % pour Sydney et + 57% pour Perth. À l’opposé, les prévisions de croissance de la population centi-millionnaire sont en berne pour Los Angeles (+17 %), Londres (+12 %), Chicago (+6 %), et Moscou (à peine 5 %).

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Ethiopia, Norway Sign Grant Agreement of 25 Mil USD For REDD+ Investment Program

A grant agreement of about 25 million USD was signed between Ethiopia and Norway for the second phase of the REDD+ Investment Program.

“REDD+ Investment Program Phase II” is believed to contribute to Ethiopia’s nationally determined contribution (NDC) targets of emission reduction, increased forest cover, and increased GDP.

Ethiopia’s State Minister of Finance, Semereta Sewasew and Ambassador of Norway to Ethiopia, Stian Christensen signed the agreement in Addis Addis Ababa.

The signed program is a second phase and a continuation of the REDD+ Investment Program which has been financed by the Government of Norway and under implementation since 2017.

The Program aims to address the drivers of deforestation and forest degradation effectively through on-the-ground targeted interventions, re-enforced by the establishment of the appropriate policy environment, legal frameworks, institutional arrangements and capacity building.

Ethiopia has been implementing a grand forestation program under its Green Legacy Initiative with a view to fight the challenges of climate change, ensure food self-sufficiency and expedite green economy.

The nation has planted more than 25 billion seedlings in the first phase of the Green Legacy Initiative that was carried out from 2019 to 2022.

The nation has also planned to plant another 25 billion seedlings in the second phase which was launched in the rainy season of 2023.

Ethiopia can earn 500 million USD every year from carbon trading through the Green Legacy Initiative.

Carbon trading is a market-based system in which developed countries pay developing countries that develop forestry to absorb carbon and engage in development practices that reduce specific amounts of carbon.

Source: Ethiopian News Agency

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African Nations Urged to Support Women, Youth Entrepreneurs to Accelerate Trade in Continent

African countries have been urged to promote gender responsive and inclusive policies to support women and youth entrepreneurs to accelerate trade development in the continent.

The remark was made at the 14th African Congress for Women Entrepreneurs and 4th COMESA Federation of Women in Business Forum.

The Congress ran under the theme, Economic Empowerment and Entrepreneurship Promotion for Women and Youth and support of MSMEs for realizing Africa Continental Free Trade Area (AfCFTA) and Regional Integration in line with Africa’s Agenda 2063 and UN Sustainable Development Goals (SDGs).

The congress took stock of progress on tackling challenges in accessing economic opportunities faced by women and youth across the African continent.

Speaking at the event, the Principal Regional Advisor for Regional Integration and Trade Division at the Economic Commission for Africa (ECA), Brendah Phiri-Mundia, said women and youth, have revolutionized entrepreneurship in Africa and they are better positioned to boost trade through AfCFTA.

Phiri-Mundia noted that the AfCFTA which came into force in May 2019, could advance the global and continental goals on gender equality and women empowerment.

According to the ECA, the full implementation of the free trade area will increase the value of intra-Africa trade to 195 billion USD by 2045 compared to 113 billion USD recorded in 2020 which is the baseline.

Women have made an undeniable impact in the entrepreneurial landscape with research indicating that Africa alone has more entrepreneurs than other regions for both females and males.

Sub-Saharan Africa has the highest rate of female entrepreneurs globally with approximately 26 percent of female adults involved in entrepreneurial activity.

The ECA’s 2021 Women’s Entrepreneurship Report estimates that reducing gender inequality will boost African economies by 316 billion USD.

Phiri-Mundia stressed that Africa’s youth is a potent force for innovation and economic development with incubators, accelerators and government initiatives helping young entrepreneurs turn their ideas into reality.

She urged African countries to promote gender responsive and inclusive policies to support women and youth entrepreneurs to accelerate trade development in the continent.

The challenges faced by both women and youth entrepreneurs cannot be ignored, Phiri-Mundia added, acknowledging the access to start-up financing, skills development, mentorship, promoted by various Women Business Associations and development partners to overcome the challenges faced by women and the youth.

The ECA has also stepped up its efforts to contribute to addressing the complex issue of collecting gender disaggregated data to support better policymaking and evidence-based advocacy across the African continent, said Phiri-Mundia, who represented the ECA Deputy Executive Secretary and Chief Economist, Hanan Morsy.

These efforts include a joint project with UNCTAD and the UN Economic Commission for Europe to “develop a coherent approach to measuring the impact of trade on gender equality using official statistics and building on the existing statistical data and capacity of countries”.

She called for collective action to amplify collaboration in initiatives that address multiple barriers faced by women and youth which finance literacy and digital finance, apprenticeships especially in male-dominated sectors, digital skills training and profitability information across sectors.

Source: Ethiopian News Agency

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PM Abiy Says Nation Working to Strengthen Tourism through Home Grown Economy Reform

The Government of Ethiopia has been working on the development of the tourism sector through its Home Grown Economy Reform, Prime Minister Abiy Ahmed said.

The premier has launched the National Tourism and Hospitality Exhibition earlier today.

The exhibition at the Science Museum showcases Ethiopia’s tourism assets and will be open to the public for the next coming weeks as of today, it was learned.

During the occasion, Abiy said Ethiopia is rich with history, heritage, culture, natural endowments, birds, and wildlife that are foundation for the development of tourism.

The country is also endowed with magnificent bio-diversities that have potential tourism attractions and located at highest mountains and lowlands with conducive weather, the PM added.

“The world had scientifically proved that Ethiopia is a place where a fact about the origins of human being is located. (And) there would be no human being that doesn’t want to visit this. The highest and very lowest places are located in Ethiopia. We find the highest places at the Semen Mountains and Bale Mountains, as well as the lowest (place) Dallol Depression in Afar. There are also very hot and cold places in Ethiopia. In general, Ethiopia is a country with extremely extraordinary places.”

He therefore stressed the need for more efforts to increase the benefits of the country from the tourism sector.

The premier added that the Government of Ethiopia has been working on the development of the tourism sector through its Home Grown Economy Reform.

In his speech at the opening, Abiy emphasized the need to identify new tourism potentials as well as develop and intensively promote them.

He also underlined the need to provide the necessary services for tourists coming to Ethiopia and all stakeholders in the tourism industry work in collaboration to expedite the development of the sector.

According to the organizers, the exhibition launched today will give visitors an opportunity to see a sample of what makes Ethiopia an ideal destination.

Source: Ethiopian News Agency

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PM Abiy Emphasizes Contribution of Tourism for Economic Sector

Prime Minister Abiy Ahmed said tourism is one of the main pillars for the economic sector, considering a rich history, heritage, culture, natural endowments that Ethiopia is endowed with.

The premier launched today the Tourism and Hospitality exhibition in Addis Ababa.

He said “Tourism is one of the main pillars for the economic sector, considering we have a rich history, heritage, culture, natural endowments, birds, wildlife and unique events that are marketable.”

The Tourism and Hospitality exhibition launched today gives visitors an opportunity to see a sample of what makes Ethiopia an ideal destination, the premier added.

Abiy has also called on Ethiopians to serve in the interest of positioning Ethiopia as a destination with many splendors.

“I call upon all Ethiopians to explore what your country offers; to extract the potential of what you discover; to promote and to serve in the interest of positioning Ethiopia as a destination with many splendors,” the PM twitted.

Ethiopia has given a paramount attention to the tourism sector in its ten year development national plan.

The government is working to improve policies and legal frameworks to make the sector a key part of the local economic strategy.

Source: Ethiopian News Agency