Synopsis
This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Spain.
Scope
• Independent market sizing of Spain's HNWIs across five wealth bands
• HNWI volume, wealth and allocation trends from 2009 to 2013
• HNWI volume, wealth and allocation forecasts to 2018
• HNWI and UHNWI asset allocations across 13 asset classes
• Geographical breakdown of all foreign assets
• Alternative breakdown of liquid vs. investable assets
• Number of UHNWIs in major cities
• Number of wealth managers in each city
• City ratings of wealth management saturation and potential
• Details of the development, challenges and opportunities of the wealth management and private banking sector in Spain
• The size of Spain's wealth management industry
• The largest private banks by AuM
• Detailed wealth management and family office information
• Insights into the drivers of HNWI wealth
Summary
This report reviews the performance and asset allocations of HNWIs and ultra-HNWIs in Spain. It also includes an evaluation of the local wealth management market.
Reasons To Buy
• The Spain Wealth Report 2014 is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the report comprises a wide variety of data that is created based on over 125,000 HNWIs from around the world in our database.
• With the wealth reports as the foundation for its research and analysis, WealthInsight is able 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.
• The report reviews the performance and asset allocations of HNWIs and ultra-HNWIs. The report also includes projections of the volume, wealth and asset allocations of the HNWIs to 2018 and a comprehensive background of the local economy.
• The report provides a thorough analysis of the private banking and wealth management sector, latest merger and acquisition activity and the opportunities and challenges that it faces.
• It also provides detailed information on HNWIs volumes in each major city.
Key highlights
• There were approximately 228,736 HNWIs in Spain in 2014, which held US$968.8 billion in wealth.
• Spanish HNWI numbers rose by 1.7% in 2014, following an increase of 3.0% in 2013.
• Growth rates in HNWI wealth and volumes are expected to improve over the forecast period. The total number of Spanish HNWIs is forecast to grow by 19.4%, to reach 279,884 in 2019. HNWI wealth will see a significant percentage increase, growing by 31.4% to reach US$1.3 trillion by 2019.
• At the end of 2014, Spanish HNWIs held 39.5% (US$382.2 billion) of their wealth outside their home country, significantly higher than the worldwide average of 20–30%.
Table Of Contents
1 Introduction
1.1 Details of this Report
1.2 Definitions
2 Executive Summary
3 Wealth Sector Fundamentals
3.1 Political Background
3.2 Economic Background
3.3 Social Background
3.4 Benchmarking Spain’s Wealth in Context
3.4.1 Distribution of wealth in Spain
3.5 HNWI Volume and Wealth Trends
4 Findings from the WealthInsight HNWI Database
4.1 Trends in HNWI Wealth to 2019
4.1.1 HNWI trend analysis
4.1.2 Trends of the wealth bands
4.1.3 Demographic breakdown of HNWIs
4.1.4 HNWIs job titles
4.1.5 HNWIs industry breakdown
4.1.6 HNWIs industry performance
4.1.7 HNWIs breakdown by city
4.1.8 HNWIs city performance
4.1.9 HNWIs city population densities
4.1.10 HNWIs city forecasts
4.1.11 HNWIs breakdown by state
4.1.12 HNWIs state performance
4.1.13 HNWIs state population densities
4.2 UHNWIs
4.2.1 UHNWI volume trend analysis
4.2.2 UHNWI wealth trend analysis
4.2.3 Demographic breakdown of UHNWIs
4.2.4 UHNWIs industry breakdown
4.2.5 UHNWIs city breakdown and performance
4.3 UHNWIs Billionaires
4.3.1 Billionaire volume trend analysis
4.3.2 Billionaire wealth trend analysis
4.3.3 Billionaire per capita net worth trend analysis
4.3.4 List of billionaires
4.4 UHNWIs Centimillionaires
4.4.1 Centimillionaire volume trend analysis
4.4.2 Centimillionaire wealth trend analysis
4.4.3 Centimillionaire per capita net worth trend analysis
4.5 UHNWIs Affluent Millionaires
4.5.1 Affluent millionaire volume trend analysis
4.5.2 Affluent millionaire wealth trend analysis
4.5.3 Affluent millionaire per capita net worth trend analysis
4.6 Core HNWIs
4.6.1 Core HNWI volume trend analysis
4.7 Core HNWIs Mid-Tier Millionaires
4.7.1 Mid-tier millionaire volume trend analysis
4.7.2 Mid-tier millionaire wealth trend analysis
4.7.3 Mid-tier millionaire per capita net worth trend analysis
4.8 Core HNWIs Lower-Tier Millionaires
4.8.1 Lower-tier millionaire volume trend analysis
4.8.2 Lower-tier millionaire wealth trend analysis
4.8.3 Lower-tier millionaire per capita net worth trend analysis
5 Analysis of Spanish HNWI Investments
5.1 Analysis by Asset Class
5.1.1 Trends in alternative assets
5.1.2 Trends in ‘art, wine and wheels’
5.1.3 Trends of investments in real estate
5.1.4 Trends of investments in cash and deposits
5.1.5 Trends of investments in fixed-income
5.1.6 Trends of investments in equity
5.1.7 Trends of investments in business interests
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe
5.2.2 Investments in North America (including the US, Mexico and the Caribbean)
5.2.3 Investments in the Asia-Pacific
5.2.4 Investments in South America
5.2.5 Investments in the Middle East
5.2.6 Investments in Africa
5.3 Alternative Breakdown: Liquid vs Investable Assets
5.4 Analysis of Spanish UHNWI Investments
6 Competitive Landscape of the Wealth Sector
6.1 Competitive Landscape
6.1.1 Private banks
6.1.2 Wealth managers
6.1.3 Family offices
6.1.4 Financial advisors
6.2 Developments in the Spanish Private Banking Industry
6.3 Wealth Management and the Private Banking Industry
6.4 Spanish Wealth Management Industry Client Model and Maturity
6.5 Behavioral Mapping of Wealth Management and Private Banking in Spain
6.6 Porter’s Five Force Analysis the Wealth Management Industry
7 Appendix
7.1 Additional Components of the Wealth Sector in Spain
7.1.1 Philanthropy
7.1.2 Demand for intergenerational wealth transfer
7.2 Regulations on Taxes
7.3 Regulations Related to Immigration, Investment and Employment
7.4 Key Drivers
7.4.1 EUR to US$ exchange rate
7.4.2 Real GDP growth
7.4.3 Per capita GDP
7.4.4 Domestic market capitalization
7.4.5 Commodity index
7.4.6 Foreign direct investments inflow and outflow
7.4.7 Inflation rate
7.4.8 Interest rate
7.4.9 Balance of payments
7.4.10 Government debt
7.4.11 Stock market performance
7.5 Wealth Breakdowns
8 About WealthInsight
List Of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: Regional Populations in Spain (Thousand), 2014
Table 3: Spanish HNWIs Volume Distribution, 2014
Table 4: Spanish HNWIs Wealth Distribution Wealth Pyramid (%), 2014
Table 5: Spanish HNWIs Industry Performance, 2010–2014
Table 6: Spanish HNWIs Population of Cities (Thousand), 2014
Table 7: Spanish HNWIs Growth in Top Cities (Thousand), 2010–2014
Table 8: Spanish HNWIs Population Density in Major Cities (Thousand), 2014
Table 9: Spanish HNWIs Population in Top Cities (Thousand), 2010–2019
Table 10: Spanish HNWIs Growth Rates for Top Cities (%), 2010–2019
Table 11: Spanish HNWIs Population by State (Thousand), 2014
Table 12: Spanish HNWIs Population and State Growth Data (%), 2010–2014
Table 13: Spanish HNWIs Population Density by State (%), 2014
Table 14: Spanish UHNWIs Gender Performance, 2010–2014
Table 15: Spanish UHNWIs Source of Wealth (%), 2014
Table 16: Spanish UHNWIs in Top Cities (Thousand), 2010–2019
Table 17: Spanish UHNWIs Growth Rates for Top Cities (Thousand), 2010–2019
Table 18: Spanish Billionaires Market Overview (US$ Billions), 2010–2019
Table 19: Spanish Top 10 Billionaires (US$ Billions), 2014
Table 20: Spanish Billionaire Wealth Growth (US$), 2010?2014
Table 21: Spanish Centimillionaires Market Overview (US$), 2010–2019
Table 22: Spanish Affluent Millionaires Market Overview (US$), 2010–2019
Table 23: Spanish Mid-Tier Millionaires Market Overview (US$), 2010–2019
Table 24: Spanish Lower-Tier Millionaires Market Overview (US$), 2010–2019
Table 25: Spanish Allocations of HNWI Assets (%), 2010–2019
Table 26: Spanish HNWIs ? Holdings Growth (%), 2010–2019 57
Table 27: Spanish HNWIs Alternative Asset Composition (%), 2010–2019
Table 28: Spanish HNWIs Trends of Investments in Alternative Assets (%), 2010–2019
Table 29: Spanish Trends in ‘Art, Wine and Wheels’, 2010–2014
Table 30: Global Prime Real Estate Prices per m² (US$), 2012
Table 31: Spanish HNWIs Percentage of Foreign Investment Allocations, 2010–2019
Table 32: Spanish HNWIs Liquidity Breakdown (US$ Billion), 2010–2019
Table 33: Spanish HNWIs Liquidity Breakdown (%), 2010–2019
Table 34: Spanish UHNWIs Allocations and Share of HNWI Assets, 2014
Table 35: Leading Domestic Private Banks in Spain by AuM (US$), 2014
Table 36: Leading Foreign Private Banks in Spain by AuM (US$), 2014
Table 37: Spanish Wealth Managers, 2014
Table 38: Spanish Family Offices, 2014
Table 39: Wealth Management Industry Recent Deal Activity in Spain, 2014
Table 40: Spanish Income Tax Bands (EUR), 2014
Table 41: EUR per US$ Exchange Rate (%), 2010–2019
Table 42: Spanish Real GDP Growth (%), 2010–2019
Table 43: Spanish GDP Per Capita (US$), 2010–2019
Table 44: Spanish Domestic Market Capitalization (US$ Billion), 2010–2014
Table 45: Spanish Commodity Indices, 2010–2019
Table 46: Spanish Foreign Direct Investments (US$ Billion), 2007–2011
Table 47: Spanish Inflation Rate (%), 2010–2019
Table 48: Spanish Money Market Rate (%), 2010–2019
Table 49: Spanish Balance of Payments (US$ Billion), 2010–2014
Table 50: Spanish Government Debt as a Percentage of GDP (%), 2010–2019
Table 51: Spanish Stock Market Performance, 2010–2014
Table 52: Spanish HNWI Wealth vs GDP Ratio (%), 2010–2019
Table 53: Spain Appendix One
Table 54: Spain Appendix Two
List Of Figures
Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of Spain
Figure 3: Spain’s Asset Price Performance (US$), 2010–2014
Figure 4: Spanish HNWI Performance (US$), 2010–2019
Figure 5: Spanish vs. Global HNWIs (US$), 2010?2014
Figure 6: Spanish HNWIs Growth Factor Correlation, 2010–2014
Figure 7: Spanish HNWIs Volume Distribution Wealth Pyramid, 2014
Figure 8: Spanish HNWIs Wealth Distribution Wealth Pyramid (%), 2014
Figure 9: Spanish HNWIs Age Distribution, 2014
Figure 10: Spanish HNWIs Job Titles, 2010–2014
Figure 11: Spanish HNWIs Distribution by Industry (%), 2014
Figure 12: Spanish HNWIs City Performance (Thousand), 2010–2014
Figure 13: Spanish HNWIs City Population Volumes (Thousand), 2010–2014
Figure 14: Spanish HNWIs City Forecasts (Thousand), 2015–2019
Figure 15: Spanish HNWIs City Population Volumes (Thousand), 2015–2019
Figure 16: Spanish UHNWIs Wealth Share vs Volume Growth (%), 2010–2014
Figure 17: Spanish UHNWIs Volume by Wealth Band (Thousand), 2010–2019
Figure 18: Spanish UHNWIs Wealth by Wealth Band (US$ Billion), 2010–2019
Figure 19: Spanish UHNWIs Age Distribution (Percentage Share), 2014
Figure 20: Spanish UHNWIs Distribution by Industry, 2014
Figure 21: Spanish Billionaires Market Overview (US$), 2010–2019
Figure 22: Spanish Centimillionaires Market Overview (US$), 2010–2019
Figure 23: Spanish Affluent Millionaires Market Overview (US$), 2010–2019
Figure 24: Spanish Mid-Tier Millionaires Market Overview (US$), 2010–2019
Figure 25: Spanish Lower-Tier Millionaires Market Overview (US$), 2010–2019
Figure 26: Spanish HNWIs Asset Class Composition (%), 2010–2019
Figure 27: Spanish HNWIs Trends in Alternative Assets (US$ Billion), 2010–2019
Figure 28: Spanish Trends in ‘Art, Wine and Wheels’, 2010–2014
Figure 29: Spanish HNWIs Foreign Investment Allocation and Growth (%), 2014
Figure 30: Spanish HNWIs Global Distribution of Foreign Investments (%), 2010–2019
Figure 31: Spanish HNWIs Liquidity Breakdown (%), 2010–2019
Figure 32: Spanish UHNWIs Asset Class Composition, 2010–2019
Figure 33: Spanish Wealth Management Industry Maturity Level of Operators
Figure 34: Spanish Wealth Management Industry Behavioral Mapping, 2014
Figure 35: Spanish Wealth Management Industry Five Forces Analysis
Figure 36: EUR to US$ Exchange Rate (%), 2010–2019
Figure 37: Spanish Real GDP Growth (%), 2010–2019
Figure 38: Spanish GDP Per Capita (US$), 2010–2019
Figure 39: Spanish Domestic Market Capitalization (US$ Billion), 2010–2014
Figure 40: Spanish Commodity Indices, 2010–2019
Figure 41: Spanish Foreign Direct Investments (US$ Billion), 2007–2011
Figure 42: Spanish Inflation Rate (%), 2010–2019
Figure 43: Spanish Money Market Rate (%), 2010–2019
Figure 44: Spanish Balance of Payments (US$ Billion), 2010–2014
Figure 45: Spanish Government Debt as a Percentage of GDP (%), 2010–2019
Figure 46: Spanish Stock Market Performance, 2010–2014
Figure 47: Spanish HNWI Wealth vs GDP Ratio (%), 2010–2019
Figure 48: Spanish HNWIs Volume by Wealth Band, 2010–2019
Figure 49: Spanish HNWIs Wealth by Wealth Band (in US$ Billions), 2010–2019
Figure 50: Spanish HNWIs Wealth Per Capita (in US$ Millions), 2010–2019
