Wealth Management - Thailand

Thailand

In Thailand, the Wealth Management market is anticipated to witness significant growth in the coming years.
It is projected that the Assets under Management in this market will reach a staggering amount of US$85.99bn by the year 2024.
Financial Advisory services are expected to dominate the market, with a projected market volume of US$78.24bn in the same year.
Moreover, the Assets under Management are estimated to display a steady annual growth rate of 0.55% from 2024 to 2028.
This growth rate, also known as the Compound Annual Growth Rate (CAGR), is projected to result in a market volume of US$87.90bn by the year 2028.
The Wealth Management market in Thailand is poised for continuous expansion in the coming years, offering lucrative opportunities for investors and financial institutions.
Thailand's wealth management market has witnessed a surge in demand for sustainable investment products among high-net-worth individuals.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

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Analyst Opinion

The Wealth Management market in Thailand is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to the positive trajectory of the industry.

Customer preferences in Thailand have shifted towards a greater emphasis on wealth management services. As the country's economy continues to expand, individuals and businesses are seeking professional assistance in managing their assets and investments. This growing demand for wealth management services is driven by a desire for financial security and the need for expert guidance in navigating the complex financial landscape.

Trends in the market reflect this increased demand for wealth management services. Financial institutions in Thailand are expanding their wealth management offerings to cater to the evolving needs of their clients. They are providing a wider range of investment products and services, including personalized investment advice, portfolio management, and estate planning.

Additionally, there is a growing trend towards digitalization in the wealth management industry, with the emergence of online platforms and mobile applications that allow clients to access and manage their investments conveniently. Local special circumstances in Thailand also contribute to the development of the Wealth Management market. The country has a growing middle class with rising disposable incomes, creating a larger pool of potential clients for wealth management services.

Moreover, Thailand is a popular destination for foreign investors, who require specialized wealth management services to navigate the local regulatory environment and maximize their investment opportunities. The government's efforts to promote Thailand as a regional financial hub further fuel the demand for wealth management services. Underlying macroeconomic factors play a crucial role in the growth of the Wealth Management market in Thailand.

The country's stable economic growth, low inflation rate, and favorable investment climate attract both domestic and international investors. The government's focus on infrastructure development and economic reforms also create opportunities for wealth management services, as individuals and businesses seek to capitalize on these growth prospects. Additionally, the increasing integration of Thailand into the global economy and the rise of regional economic partnerships contribute to the expansion of the wealth management industry.

In conclusion, the Wealth Management market in Thailand is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As individuals and businesses seek professional assistance in managing their assets and investments, financial institutions are expanding their wealth management offerings and embracing digitalization. The growing middle class, foreign investment, government initiatives, and favorable macroeconomic conditions further fuel the demand for wealth management services in Thailand.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).