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Millionaire boom: Which countries are getting richer?
Global wealth has more than doubled since 2000, reaching a new all-time high of $241 trillion, finds the 2013 Credit Suisse Wealth Report.
Strong economic growth and rising population in emerging nations has resulted in a millionaire boom across the world.
According to Credit Suisse estimates, the number of global millionaires could exceed 47 million in 2018, a rise of almost 16 million.
Asia-Pacific is expected to increase its number of millionaires by 3.8 million, reaching 9 million by 2018.
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Millionaire boom: Which countries are getting richer?
India
Number of millionaires in 2013: 1,82,000
Number of millionaires in 2018: 3,02,000
Rise in millionaires: 66%
During the past decade, the rate of wealth growth at constant USD exchange rates has been roughly 8 per cent in India and China, says the Credit Suisse study.
Wealth in India will also grow very rapidly, at an annual pace of 9.3 per cent.
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Millionaire boom: Which countries are getting richer?
China
Number of millionaires in 2013: 1.12 million
Number of millionaires in 2018: 2.1 million
Rise in millionaires: 88%
China is likely to see the number of millionaires doubling by 2018, raising the total to 2.1 million. China saw the 90,000 new millionaires in last one year.
Take a look at nations with the maximum number of millionaires by 2018…
Millionaire boom: Which countries are getting richer?
United States
Number of millionaires in 2013: 13.2 million
Number of millionaires in 2018: 18.6 million
Rise in millionaires: 41%
United States continues to lead with the highest number of millionaires. Around 1.7 million millionaires added in the past one year were from the United States.
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Millionaire boom: Which countries are getting richer?
France
Number of millionaires in 2013: 2.21 million
Number of millionaires in 2018: 3.22 million
Rise in millionaires: 46%
France continues to faces challenges of high unemployment and low growth.
However, it remains seventh in the world in terms of household wealth per adult. France has the highest number of millionaires in Europe.
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Millionaire boom: Which countries are getting richer?
United Kingdom
Number of millionaires in 2013: 1.52 million
Number of millionaires in 2018: 2.37 million
Rise in millionaires: 55%
Being a developed economy, more than half the population has wealth exceeding $100,000, and there are 1.5 million US dollar millionaires. Around 2.4 million people in the UK are among the wealthiest 1 per cent in the world.
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Millionaire boom: Which countries are getting richer?
Germany
Number of millionaires in 2013: 1.73 million
Number of millionaires in 2018: 2.53 million
Rise in millionaires: 46%
Germany has 4,500 high net worth individuals, whose wealth exceeds $50 million.
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Millionaire boom: Which countries are getting richer?
Korea
Number of millionaires in 2013: 2,51,000
Number of millionaires in 2018: 4,49,000
Rise in millionaires: 79%
Korea has 1,210 high net worth individuals.
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Millionaire boom: Which countries are getting richer?
Brazil
Number of millionaires in 2013: 2,21,000
Number of millionaires in 2018: 4,07,000
Rise in millionaires: 84%
Brazil’s average household wealth has almost tripled since 2000, rising from $7,900 per adult to $23,300. Brazil has more people in the $10,000–100,000 range relative to the rest of the world, says Credit Suisse.
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Millionaire boom: Which countries are getting richer?
Mexico
Number of millionaires in 2013: 1,86,000
Number of millionaires in 2018: 2,73,000
Rise in millionaires: 47%
The number of millionaires in Latin America will reach almost 1 million in five years’ time , thanks to the rise in wealth in Brazil and Mexico.
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Millionaire boom: Which countries are getting richer?
Singapore
Number of millionaires in 2013: 1,74,000
Number of millionaires in 2018: 2,35,000
Rise in millionaires: 35%
Singapore’s household wealth has grown rapidly in recent years, rising from $112,800 at the turn of the century to $281,800 by mid-2013.
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Millionaire boom: Which countries are getting richer?
Indonesia
Number of millionaires in 2013: 1,23,000
Number of millionaires in 2018: 1,94,000
Rise in millionaires: 58%
The rise in personal wealth in Indonesia has been very strong, with the average increasing more than fourfold since the year 2000.
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Millionaire boom: Which countries are getting richer?
Russia
Number of millionaires in 2013: 84,000
Number of millionaires in 2018: 1,33,000
Rise in millionaires: 58%
Russia has the highest level of wealth inequality in the world. In Russia, today 110 billionaires own 35 per cent of all wealth.
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Millionaire boom: Which countries are getting richer?
Hong Kong
Number of millionaires in 2013: 1,03,000
Number of millionaires in 2018: 1,68,000
Rise in millionaires: 63%
Hong Kong also saw a rise in number of high net worth individuals.
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Millionaire boom: Which countries are getting richer?
Turkey
Number of millionaires in 2013: 1,02,000
Number of millionaires in 2018: 1,58,000
Rise in millionaires: 55%
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Millionaire boom: Which countries are getting richer?
Poland
Number of millionaires in 2013: 45,000
Number of millionaires in 2018: 85,000
Rise in millionaires: 89%
Poland's currency appreciated by about 7 per cent.
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Millionaire boom: Which countries are getting richer?
Malaysia
Number of millionaires in 2013: 38,000
Number of millionaires in 2018: 67,000
Rise in millionaires: 76%
Between 2000 and 2013, emerging markets nearly doubled their share of global wealth from 12 per cent to 21 per cent, thus increasing their share of global wealth by 0.7 per cent each year, says Credit Suisse.
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Millionaire boom: Which countries are getting richer?
Chile
Number of millionaires in 2013: 54,000
Number of millionaires in 2018: 86,000
Rise in millionaires: 59%
The Asia-Pacific region is expected to increase its number of millionaires by 3.8 million, reaching 9 million by 2018.