Asian Wealth to Beat Europe's for First Time Amid Brexit Turmoil

Private wealth in Western Europe is set to fall behind the Asia-Pacific region for the first time this year, partly as a result of the political and economic uncertainty unleashed by Brexit, according to the Boston Consulting Group.

Western Europe’s private-household wealth grew by 3.2 percent to $40.5 trillion last year, the smallest increase of any region, while Asia-Pacific had a surge of 9.5 percent to $38.4 trillion, the consulting firm said in a report Tuesday. Those totals are expected to climb to $41.9 trillion and $42.3 trillion respectively by the end of 2017, BCG said in an email.