Japan's ultra-wealthy population to shrink by 2027: report

Jun 26, 2023 | News On Japan

Jun 26, 2023 (Japan Today) - Japan's ultra-wealthy population is forecast to shrink by 1.8 percent in the five years to 2027, the only member among the Group of Seven industrialized nations to see a decline in the period, a recent report by a British real estate consulting firm showed.

Japan, however, will remain home to the second largest number of ultra-high-net-worth individuals -- a person with a net worth of at least $30 million -- in Asia, behind mainland China, according to the latest annual Wealth Report by Knight Frank.

The number of such super-rich people in Japan, the world's third-largest economy, is estimated at 21,859 in 2027, down from 22,259 in 2022.

A Knight Frank official attributed Japan's shrinking population as one of the main factors for the expected decline.

Japan's population is projected to drop from 125 million in 2022 to 122 million in 2027, representing a 2.3 percent decrease, according to the National Institute of Population and Social Security Research. ...continue reading

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