Asia’s female financial firepower surges to record highs
For the first time, women in Asia now hold more combined wealth than any other region except North America, and the total is growing faster than anywhere else.
Women in Asia (ex-Japan) will hold $27tn in wealth by 2026, $6tn more than women in western Europe, according to analysis done by Boston Consulting Group for Nikkei Asia. It found that women’s combined wealth in Asia overtook that of western Europe at the end of 2021.
Women in Asia have been adding $2tn to their collective wealth annually since 2019. This rapid clip is predicted to continue at least for the next four years at a compound annual growth rate of 10.6 per cent. The BCG analysis is based on financial wealth, including investment funds, life insurance and pensions, listed and unlisted shares and other equity, currency and deposits, bonds and similar financial assets.
The consulting firm excluded Japan from the analysis and said women there hold a much smaller portion of the nation’s wealth relative to comparable markets. It also said that women’s wealth in Japan is growing at a much slower pace of 2.6 per cent.
This is the first in a five-part series that will explore the drivers of this increasing wealth, the extraordinary progress women have made and the hurdles of systemic discrimination that remain.
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