Indian people in the UK recorded strong growth in wealth over the past decade, while several other ethnic groups experienced declines, according to a new report from the London School of Economics.
The report, The Ethnic Wealth Divide in the UK, authored by Eleni Karagiannaki, an Assistant Professorial Research Fellow at the Centre for Analysis of Social Exclusion, looked at household wealth trends across ethnic groups between 2012-14 and 2021-23.
It found that adults from the Indian ethnic group were among those who saw the largest increases in wealth during this period.
In contrast, wealth levels for the Pakistani group declined, while several other minority groups recorded little overall change.
Median wealth rose substantially for Indian and White British groups over the decade. It remained close to zero for Bangladeshi, Black African and Black Caribbean groups. The Pakistani group recorded a fall in median wealth.
The research also highlighted clear differences linked to place of birth.
UK-born adults from the Indian group were found to be better placed than both non-UK-born Indians and White British individuals.
The report stated that UK-born Indians “have a clear wealth advantage” over these groups.
Asset ownership trends played a central role in shaping these outcomes.
In 2012-14, White British, Indian and Asian Other groups already had higher levels of ownership. By 2021-23, ownership had increased further for these groups.
Author: George Shaw
Former BBC journalist and founder and CEO of an award-winning London advertising and PR company for 20 years, providing restaurant consultancy services. Spent a decade as the director of communications of the Asian Catering Federation in the UK and lead judge for its various restaurant and chef awards programmes. Now returned to journalism, specialising in food and travel and currently the Editor-in-Chief for Taste London, Taste Asia, the Good Curry Guide and CEO of International Culinary Guides.