According to projections by global real estate consultancy and estate agency Knight Frank, Indonesia is forecast to experience the world’s fastest growth in the population of ultra-wealthy people (also known as ultra-high-net-worth individuals, or UHNWIs) over the next five years.
Individuals categorised as UHNWIs are those who possess a net worth of at least US$30 million (approximately Rp537 billion, assuming an exchange rate of Rp17,900 per US dollar). Based on Knight Frank’s projections, the number of UHNWIs in Indonesia is expected to surge by 81.7% between 2026 and 2031. This projected growth rate is the highest among the countries included in Knight Frank’s UHNWI projections. Saudi Arabia ranks second, with 63.2% growth, followed by Poland at 62.6% and Vietnam at 59.0%.
One factor driving this projected growth is the sheer size of Indonesia’s domestic market. With a population exceeding 280 million, Indonesia boasts one of the world’s largest consumer markets. This vast market creates room for growth across various business sectors and offers opportunities for business owners to increase their wealth.
Furthermore, new wealth can also emerge from various expanding sectors, ranging from commodities to digital finance. As companies grow and the value of ownership stakes or shares rises, the wealth of entrepreneurs and investors is projected to increase alongside them.
The following is the list of the top 10 countries with projected growth in the UHNWI population, according to Knight Frank:
- Indonesia: 81.7%
- Saudi Arabia: 63.2%
- Poland: 62.6%
- Vietnam: 59.0%
- Australia: 58.5%
- Sweden: 55.3%
- United States: 54.1%
- Romania: 49.5%
- The Philippines: 48.9%
- Singapore: 46.4%
Additionally, Knight Frank recorded that Indonesia currently ranks second in Southeast Asia in terms of its UHNWI population. Singapore remains the country with the highest number of UHNWIs in the region, comprising 7,171 individuals. Meanwhile, the United States and China currently remain the two countries with the largest number of UHNWIs in the world, with more than 251,300 individuals and more than 121,600 individuals, respectively.
The following are the numbers of UHNWIs in several Southeast Asian countries as of 2026, according to Knight Frank’s data:
- Singapore: 7,171 individuals
- Indonesia: 3,833 individuals
- Thailand: 2,853 individuals
- The Philippines: 1,910 individuals
- Malaysia: 1,566 individuals
- Vietnam: 1,233 individuals