Vietnam's Ultra-Rich Population to Grow 59% by 2031, Knight Frank Says
This expansion, forecast as the world's fourth-fastest, reflects broader financial wealth growth expected to exceed 9% annually through 2030, according to Boston Consulting Group.
Vietnam's Ultra-Rich Population Growth
Vietnam is set for a significant increase in its ultra-high-net-worth individual (UHNWI) population, defined as those holding at least US$30 million in assets. Knight Frank projects a 59% rise by 2031, bringing the total to 1,960 individuals.
This growth rate is the fourth-fastest globally, with only Indonesia, Saudi Arabia, and Poland expected to outpace Vietnam, according to Knight Frank’s Wealth Report 2026. Currently, Vietnam ranks 39th worldwide by its UHNWI count of 1,233, as per Visual Capitalist data.
Expanding Financial Assets
The surge in UHNWIs aligns with a wider expansion of financial wealth across Vietnam. Boston Consulting Group forecasts the nation's financial wealth will grow by more than 9% annually through 2030, placing it among the fastest-growing emerging markets.
McKinsey & Company reported that personal financial assets, excluding real estate and gold, stood at approximately US$360 billion at the close of 2022. These assets could reach about US$600 billion by 2027.
Nguyen Tien Hoang, dean of finance and banking at Van Lang University, noted that real estate and gold remain key household wealth stores, not captured in these financial asset estimates.
Developing Wealth Management Services
Industry representatives at the Personal Financial Planning Forum 2026 in Ho Chi Minh City observed a shift in client demand. Investors are increasingly seeking comprehensive financial plans that cover various life stages, moving beyond single products like deposits or stocks.
Bui Van Huy, CEO of investment advisory firm FIDT, suggested that a more developed wealth management sector could effectively channel household savings into long-term capital for the economy. However, the market still lacks a dedicated legal framework, a diverse range of products, and common professional standards for advisers.
Policy Recommendations for Sector Growth
Le Minh Nghia, chairman of the Vietnam Financial Consultants Association, described wealth management as a vital part of the financial market's “soft infrastructure.” The Personal Financial Planning Forum 2026, which convened about 500 delegates on 3 October, plans to address these gaps.
Organisers intend to submit policy recommendations to regulators, aiming to develop a robust legal framework for the wealth management sector. This initiative could unlock significant capital for Vietnam’s economic development by formalising and expanding investment avenues.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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