Targeting Non-Resident Indians in Wealth Management: Industry Research Report

Targeting Non-Resident Indians in Wealth Management

Published Date: April 2006

Published By: Datamonitor

Page Count: 51

Order Code: R313-15546

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CHAPTER 1 INTRODUCTION: What is this report about?; Who is the target reader?
CHAPTER 2 THE MARKET OPPORTUNITY: There are three key reasons why financial instiitutions should consider targeting the NRI population
CHAPTER 3 COMPETITIVE DYNAMICS: There are four ways in which financial institutions are targeting NRIs around the globe
CHAPTER 4 APPENDIX: Data; Definitions; Research methodology; The Global Wealth Model; Bespoke Wealth Market Sizing; Further reading; Datamonitor Financial Services Consulting; Asia-Pacific contacts
List of Tables: Table 1: Value of NRI deposits by type, 1999-2005; Table 2: Foreign direct investment into India by country, 2002-2005; Table 3: Stocks and flows of NRIs into countries around the world, 2005; Table 4: Proportion of NRI populations that are affluent, 2005; Table 5: Wealth markets that have been modeled using the Global Wealth Model
List of Figures: Figure 1: NRI deposits have been growing in value rapidly in recent years and were worth almost USD33bn as at March 2005; Figure 2: Money transmission is clearly an important service offering for expatriates around the world; Figure 3: Foreign investment flows into India have increased markedly since 2004, with Mauritius being the largest contributor; Figure 4: Investment advisory services offered by an offshore bank are considered important; Figure 5: Understanding of income tax position is a large concern for expatriates; Figure 6: The tax or legal implications of buying property abroad are of concern to expatriates; Figure 7: In general all investment services were deemed to be useful, but portfolio management, property investment and collective investments were the most popular; Figure 8: Tax planning and advice were considered the most important advisory and planning services that an offshore bank could provide to expatriates; Figure 9: Expatriates were less interested in insurance products. Private health insurance was considered the most important for an offshore bank to provide; Figure 10: Of the 20 countries studied by Datamonitor, the Middle Eastern countries were home to the largest number of NRIs; Figure 11: The UAE and Saudi Arabia are home to 2.6 million NRIs between them, with many more arriving each year; Figure 12: The US is home to one of the world's largest Indian populations, and saw more than 70,000 arrive in 2005; Figure 13: Europe - and in particular the UK - is home to a large number of NRIs, with more than 30,000 arriving each year; Figure 14: The Indian born population around Asia-Pacific is substantial, although many have been outside of India too long to be considered NRIs; Figure 15: British Asians are more likely to be self-employed than any other UK ethnic group; Figure 16: Large proportions of the NRI populations in each country are either mass affluent of high net worth; Figure 17: The proportion of NRIs that are considered affluent compared to the domestic population is particularly favorable in Thailand, Singapore, Indonesia, China and Ireland.; Figure 18: A selection of the domestic Indian banks offering NRI services