The Knight Frank Wealth Report 2026 forecasts that Indonesia will record the world’s fastest growth in ultra-high-net-worth individuals (UHNWIs) by 2031. The survey forecasts the number of individuals with assets above US$30 million to rise 82 percent. However, economists warn that increased private wealth does not always translate into more riches or higher living standards for the majority.

Thekabarnews.com—The Knight Frank Wealth Report 2026 projects that Indonesia will become the world’s fastest-growing market for ultra-high-net-worth individuals (UHNWIs) over the next five years. This growth is driven by the country’s tremendous economic potential. Moreover, wealth creation is occurring in a range of key industries.

The Knight Frank Wealth Report 2026 projects that the number of Indonesians with a net worth exceeding US$30 million will grow by 82 percent, from 3,833 in 2026 to approximately 6,966 by 2031. This is according to Indonesiabusinesspost.com.

Indonesia is the fastest-growing country in the world in terms of the growth rate of its ultra-wealthy people, according to the report. However, the prediction does not say Indonesia will have the most UHNWIs in the world. This figure is as quoted by Independet.com.

The report compares the expected growth of each country’s ultra-high-net-worth population relative to others. Josua Pardede, an analyst at Permata Bank, said a combination of structural and economic variables fuels the estimate.

“The growth rate appears higher because Indonesia still has a relatively small population of ultra-high-net-worth individuals,” he told Kontan News.

Wealth creation has been accelerating in areas such as commodities, downstream processing industries, real estate, financial services, technology, and family firms.

Josua also highlighted the enormous long-term economic potential of Indonesia with its huge domestic market, abundant natural resources, and ongoing industrial growth.

Even with that sunny prediction, economists warn that a rise in the number of the ultra-rich should not be considered automatic evidence of rising public well-being.

Currently, extractive businesses such as mining and palm oil plantations have concentrated wealth creation in Indonesia. These businesses have gained a lot from the global commodity price boom. This is according to Center of Economic and Law Studies (CELIOS) executive director Bhima Yudhistira Adhinegara.

Bhima said the trend showed that a tiny part of society continued to concentrate wealth accumulation in its hands. He added it was not widely spread across the economy.

He also alluded to increased economic pressure on Indonesia’s middle class in recent years. This pressure is due to diminishing purchasing power, higher costs, and job challenges.

Policymakers should not merely look at the expanding number of rich people when measuring the country’s economic success, economists argue.

“We also see sustainable economic development as providing quality jobs, growing the middle class, improving productivity, and spreading economic gains more widely across society,” they argue.

The UHNWI population is growing, and economists believe that increased investment, entrepreneurship, and capital formation can lead to favorable economic effects.

But they note that these gains are greatest when they are accompanied by inclusive growth. This inclusive growth enhances opportunities for businesses, workers, and households.

Indonesia is on its way to becoming one of the biggest economies in Asia. However, the challenge lies in linking rapid wealth creation with policies that reduce inequality, and promote long-term economic stability.

The Knight Frank Wealth Report 2026 underscores Indonesia’s rising profile in the global economy. However, the country’s long-term success will depend not only on creating more wealthy individuals. It will also depend on ensuring that prosperity reaches a broader share of the population.