Nobody thanks China, as one FT journalist found when he asked US shoppers whether they were grateful for cheap electrical goods. But BMW shareholders should make an exception. They will receiving a record dividend this year, after the German carmaker’s profits benefited from – you guessed it – emerging Asian demand.
The number of BMWs sold in mainland China, Hong Kong and Taiwan rose a whopping 86 per cent last year to 183,000. That means, over the last five years, nearly half a million BMWs have been sold in those markets – two for every three high-net worth individuals (HNWIs) there.
(The Asia Wealth Report estimates that there are at 636,000 individuals in China, Taiwan and Hong Kong with assets, excluding property, above $1m.)
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