HNWI Asset Allocation in Spain to 2013 by WealthInsightReports

VIEWS: 8 PAGES: 69

									                                                                                                                Publication date: January 2014
                                                                                                                      Report code: WI0154MR




         HNWI Asset Allocation in
         Spain 2013




                                                              www.wealthinsight.com

                                                                                                                                               0
         HNWI Asset Allocation in Spain 2013
         © WealthInsight. This report is a licensed product and is not to be photocopied.




Be ijing • Buenos Aires • Frankfurt • Hong Kong • Hy derabad • London • Madrid • Mexico City • New Y ork • San Francisco • Seoul • Shanghai • Singapore • Sydney
       About WealthInsight



       The WealthInsight Intelligence Center Database is an unparalleled resource and the leading
       resource of its kind. Compiled and curated by a team of expert research specialists, the
       database comprises dossiers on over 60,000 HNWIs from around the world.


       The Intelligence Center also includes tracking of wealth and liquidity events as they happen and
       detailed profiles of major private banks, wealth managers and family offices in each market.


       With the Database as the foundation for its research and analysis, WealthInsight is able to
       obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth
       management universe in each of the countries and regions it covers.




Contact:


Ouliana Vlasova

Head of Content, WealthInsight

Ouliana.Vlasova@wealthinsight.com
+44 (0)20 7406 6711




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HNWI Asset Allocation in Spain 2013
© WealthInsight. This report is a licensed product and is not to be photocopied.
TABLE OF CONTENTS


Table of Contents
1     Introduction ............................................................................................................ 1
1.1         Details of this Report .......................................................................................................... 1
1.2         Definitions .......................................................................................................................... 2
2     Executive Summary .............................................................................................. 6
3     Wealth Sector Fundamentals ............................................................................. 10
3.1         Political Background ......................................................................................................... 11
3.2         Economic Background...................................................................................................... 14
3.3         Social Background ........................................................................................................... 18
3.4         Benchmarking Spanish Wealth in Context ........................................................................ 19
      3.4.1        Distribution of wealth in Spain ................................................................................... 19
3.5         HNWI Volume and Wealth Trends .................................................................................... 20
4     Analysis of Spanish HNWI Investments ........................................................... 22
4.1         Analysis by Asset Classes ................................................................................................ 22
      4.1.1        Trends in alternative assets ...................................................................................... 24
      4.1.2        Trends in „art, wine and wheels‟ ................................................................................ 26
      4.1.3        Trends of investments in real estate .......................................................................... 28
      4.1.4        Trends of investments in cash and deposits .............................................................. 30
      4.1.5        Trends of investments in fixed-income ...................................................................... 30
      4.1.6        Trends of investments in equity................................................................................. 31
      4.1.7        Trends of Investments in business interests .............................................................. 31
4.2         Analysis of Foreign Investments ....................................................................................... 32
      4.2.1        Investments in Europe .............................................................................................. 33
      4.2.2        Investments in North America (including the US, Mexico and the Caribbean) ............ 34
      4.2.3        Investments in Asia-Pacific ....................................................................................... 34
      4.2.4        Investments in Central and South America ................................................................ 34
      4.2.5        Investments in the Middle East ................................................................................. 34
      4.2.6        Investments in Africa ................................................................................................ 34
4.3         Alternative Breakdown: Liquid vs. Investable Assets ......................................................... 35
4.4         Analysis of Spanish UHNWI Investments.......................................................................... 37

5     Appendix ............................................................................................................... 39
5.1         Additional Components of the Wealth Sector in Spain ...................................................... 39
      5.1.1        Philanthropy ............................................................................................................. 39
      5.1.2        Demand for intergenerational wealth transfer ............................................................ 39
      5.1.3        Human resource availability for the wealth management industry .............................. 39
5.2         Regulations on Taxes ....................................................................................................... 40
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HNWI Asset Allocation in Spain 2013
© WealthInsight. This report is a licensed product and is not to be photocopied.
TABLE OF CONTENTS


5.3         Regulations Related to Immigration, Investment and Employment .................................... 42
5.4         Key Drivers ...................................................................................................................... 43
      5.4.1        Euro to US$ exchange rate ....................................................................................... 43
      5.4.2        Real GDP growth ...................................................................................................... 44
      5.4.3        Per capita GDP......................................................................................................... 45
      5.4.4        Domestic market capitalization.................................................................................. 46
      5.4.5        Commodity index ...................................................................................................... 47
      5.4.6        Foreign direct investments – inflow and outflow......................................................... 48
      5.4.7        Inflation rate.............................................................................................................. 49
      5.4.8        Interest rate .............................................................................................................. 50
      5.4.9        Balance of payments ................................................................................................ 51
      5.4.10       Government debt ...................................................................................................... 52
      5.4.11       Stock market performance ........................................................................................ 53
5.5         Wealth Breakdowns ......................................................................................................... 54
6     About WealthInsight............................................................................................ 59




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HNWI Asset Allocation in Spain 2013
© WealthInsight. This report is a licensed product and is not to be photocopied.
TABLE OF CONTENTS


LIST OF TABLES
Table 1: HNWI Wealth Band and Group Definitions................................................................................................ 3
Table 2: Regions in Spain, 2012 ........................................................................................................................... 12
Table 3: Largest Cities in Spain, 2012 .................................................................................................................. 12
Table 26: Spanish Allocations of HNWI Assets, 2008−2017 ................................................................................. 23
Table 27: Spanish HNWIs − Holdings Growth (%), 2008–2017 ............................................................................ 24
Table 28: Spanish HNWIs – Trends of Investments in Alternative Assets(%), 2008–2017 ................................... 25
Table 29: Spanish HNWIs – Alternative Asset Composition (%), 2008–2017 ....................................................... 25
Table 30: Spanish Trends in „Art, Wine and Wheels‟, 2008–2012 ....................................................................... 26
Table 31: Global Prime Real Estate Prices per Square Meter in US Dollars, 2012............................................... 29
Table 32: Spanish HNWIs – Percentage of Foreign Investment Allocations, 2008–2017 ..................................... 32
Table 33: Spanish HNWIs – Liquidity Breakdown (US$ Billion), 2008–2017 ........................................................ 35
Table 34: Spanish HNWIs – Liquidity Breakdown (%), 2008–2017....................................................................... 36
Table 35: Spanish UHNWIs – Allocations and Share of HNWI Assets, 2012........................................................ 38
Table 43: Spanish Income Tax Rates for the Year Ended December 31, 2013 .................................................... 40
Table 44: Spanish Capital Gains Tax Rates for the Year Ended December 31, 2013 .......................................... 41
Table 45: Euro to US$ Exchange Rate, 2008–2017 ............................................................................................. 43
Table 46: Spanish Real GDP Growth (%), 2008–2017 ......................................................................................... 44
Table 47: Spanish GDP Per Capita (US$), 2008–2017 ........................................................................................ 45
Table 48: Spanish Domestic Market Capitalization (US$ Billions) 2008–2012...................................................... 46
Table 49: Spanish Commodity Indices, 2008–2017 .............................................................................................. 47
Table 50: Spanish Foreign Direct Investments (US$ Billion), 2008–2017 ............................................................. 48
Table 51: Spanish Inflation Rate (%), 2008–2017................................................................................................. 49
Table 52: Spanish Money Market Rate (%), 2008–2017....................................................................................... 50
Table 53: Spanish Balance of Payments (US$ Billion), 2008–2012...................................................................... 51
Table 54: Spanish Government Debt as a Percentage of GDP (%), 2008–2017 .................................................. 52
Table 55: Spanish Stock Market Performance, 2008–2012 .................................................................................. 53
Table 56: Spanish HNWI Wealth vs GDP Ratio, 2008–2017 ................................................................................ 54
Table 57: Spain Appendix One ............................................................................................................................. 55
Table 58: Spain Appendix Two ............................................................................................................................. 56




                                                                           
								
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