Billionaires are less optimistic about Asia Pacific as their next destination for investment in the short term, a survey has found.

Only 25% see the greatest opportunities in Asia-Pacific (excluding China) in the next 12 months, down 17 percentage points from last year, the Billionaire Ambitions Report 2024 by Switzerland-based investment lender UBS has found.

Around 11% view China as having the greatest opportunities, roughly the same as in 2023, said the survey, which was conducted between June and September.

In the next five years, however, billionaires are more confident about Asia Pacific, with 45% of them thinking the greatest investment opportunities will be in the region.

North America is expected to be the land of opportunity, with 80% of respondents having a positive outlook in the region for the next 12 months.

For five-year term, the ratio is 68%.

“They’re backing a country that’s leading in technological innovation… which has the potential to boost labor productivity at a time when labor is in short supply,” UBS said.

Several banks expect North America, with the U.S. in particular, to see strong financial growth in the upcoming months.

UBS, along with Goldman Sachs and Morgan Stanley forecast that the S&P 500 index – which tracks the largest companies listed in the US – will reach 6,500 next year, up 7% from now.

Goldman Sachs anticipates slower growth in China as Beijing’s stimulus efforts partially offset the impact of potential tariffs expected to be imposed by the new Trump administration, according to The Straits Times.

The UBS report is based on an online survey of 82 billionaires in 2024 and data from consultancy PWC, which tracked the wealth of more than 2,500 billionaires in 47 markets, focusing on the past 10 years.

Dat Nguyen (Source: e.vnexpress.net)