Hong Kong has more than 74,000 US$ millionaires - and the number is predicted to grow to more than 100,000 by 2009.
A survey covering six major Asia-Pacific cities - commissioned by American Express and carried out by Datamonitor - shows affluence rising rapidly across the region.
It says wealth has grown so fast that last year 5.3 million people in the region held liquid assets of at least US$300,000, a figure 6.2 million people are predicted to reach by 2008.
The survey's findings are based on interviews with affluent consumers and the high-end service providers who cater for them, including private-banking relationship managers, prestige retailers and the concierge staff who cater for Amex's exclusive black-card holders.
The survey covers Hong Kong, Singapore, Beijing, Tokyo, Sydney and Mumbai, and the results are being announced in phases.
Increasingly, the report indicates, the question that the wealthy are asking themselves is: 'How can I be distinctive in a market where affluence is so prevalent?'
Hong Kong's rich and famous, however, have denied there is pressure to stand out from the crowd of emerging millionaires.