Wealth in Turkey Market to reach $435 Billion by 2019


Posted June 9, 2016 by MIR333

The offshore market remains important, accounting for around 25% of HNW portfolios, with tax efficiency and client anonymity the primary drivers for holding assets overseas.

 
Summary
While growth in Turkey’s economy has slowed thanks to a number of economic and geopolitical challenges, the country’s small affluent population will continue to increase at a healthy rate. The retail savings and investments market is dominated by deposits, though stronger growth is predicted for the smaller asset classes such as equities and mutual funds.

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Key Findings
•In 2015, 2.3% of Turkey’s population was affluent, with the number of affluent individuals forecast to increase by 11% a year between 2015 and 2019.
•The mass affluent currently hold the bulk of the country’s wealth (61.3% of liquid assets). Total affluent assets are expected to continue to grow in line with the number of affluent individuals over the next five years, rising by 10% a year to reach $435bn by 2019.
•Strong growth will continue in the country’s relatively undeveloped savings and investments market. Deposits still dominate (88.2% of assets in 2015) due to structural factors, the taxation regime, and consumer preferences.
•Relatively strong growth is predicted for smaller asset classes (7% a year for equities and 8% a year for mutual funds to 2019) as Turkey’s capital markets begin to mature, but these classes will remain only a small proportion of the overall portfolio.
•Property remains a vital component of wealth portfolios. Turkish HNW individuals hold 17% of their investible assets outside traditional investments, with just under half of these assets held in direct property investments. Turkey has the highest share of alternative investments allocated to direct property among the countries included in MarketIntelReports Global Wealth Managers Survey.
•Offshore investments account for around 25% of HNW portfolios, with assets mainly in the US and Germany.

Synopsis
•Wealth in Turkey: Sizing the Market Opportunity analyzes the Turkish wealth and retail savings and investments markets, with a focus on the HNW segment. The report is based on our proprietary datasets.

Specifically the report:
•Sizes the affluent market (both by the number of individuals and value of their liquid assets) using MarketIntelReports proprietary datasets
•Analyzes which asset classes are favored by Turkish investors and how their preferences impact the growth of the total savings and investments market
•Examines HNW clients’ attitudes towards non-liquid investments, such as property and commodities
•Identifies key drivers and booking centers for offshore investments

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Reasons To Buy
•Benchmark your share of the Turkish wealth market against the current market size
•Forecast your future growth prospects using our projections for the market to 2019
•Identify your most promising client segment by analyzing the penetration of affluent individuals in Turkey– both at country and regional level
•Evaluate your HNW proposition by understanding how the Turkish tax systems will impact HNW clients
•Review your offshore strategy by uncovering the HNW motivations for offshore investments and their preferred booking centers

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Issued By Mayur
Country United States
Categories Business , Education , Reports
Tags wealth in turkey market , wealth in turkey market analysis , wealth in turkey market forecast , wealth in turkey market research
Last Updated June 9, 2016