Data released today found that high net worth individuals in the Dominican Republic and Paraguay hold over 30 per cent of their wealth outside their home country, beating the global average.

Data released today found that high net worth individuals in the Dominican Republic and Paraguay hold over 30 per cent of their wealth outside their home country, beating the global average.

The figures came from Research and Markets in two separate reports for each country, providing information on their high net worth population and their wealth management market - the Paraguay Wealth Report 2014 and Dominican Republic Wealth Report 2014.

In 2013, there were 5,935 HNWs in Paraguay and 10,519 in the Dominican Republic - both a relatively similar ratio to their population sizes. The average wealth for a HNW in Paraguay was $3,538,331, whereas Dominicans averaged a slightly larger $4.1 million. The total wealth held was $21 billion in Paraguay and $43 billion in the Dominican Republic.

However not all of this wealth was kept onshore - 33.8 per cent of Paraguayan and 31 per cent of Dominican wealth was kept outside of its home country. Both of these topped the global average, which falls between 20-30 per cent.

Both countries had an increase in HNWs in 2013, a trend that is set to continue over the following five years. There was a 5.5 per cent in the Dominican Republic and 7.9 per cent in Paraguay, the latter of which had seen a 1.2 per cent decrease the previous year.

The number of Paraguayan HNWs is projected to grow by 20.9 per cent to a total of 7,712 by 2018, while the Dominican Republic is set to grow faster with a rate of 27 per cent, making a forecasted figure of 14,278. Wealth in Paraguay is expected to grow by 32.5 per cent to reach $31 billion in five years, whereas the Dominican Republic is expected to see a 37 per cent to reach $66 billion.