Photographs: Bobby Yip/Reuters
Although the global economy is going through a slowdown, there are some countries where becoming a millionaire takes less time than other nations.
Let's take a look and find out how long it takes to become a millionaire.
Source: The Economist
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Shoppers look over items on sale at a Macy's store in New York City.Photographs: Keith Bedford/Reuters
The United States
At market exchange rate: 20 years
At purchasing-power parity: 20 years
Global rank: 1
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Shoppers walk along Karl Johans Gate, the main shopping street in Oslo.Photographs: Suzanne Plunkett/Reuters
Norway
At market exchange rate: 20 years
At purchasing-power parity: 30 years
Global rank: 2
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Zurich's main shopping street Bahnhofstrasse.Photographs: Arnd Wiegmann/Reuters
Switzerland
At market exchange rate: 22 years
At purchasing-power parity: 32 years
Global rank: 3
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A shopping complex in Melbourne.Photographs: Mick Tsikas/Reuters
Australia
At market exchange rate: 24 years
At purchasing-power parity: 34 years
Global rank: 4
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Boats are anchored at the 17th century Nyhavn district, home to many shops and restaurants in Copenhagen.Photographs: Bob Strong/Reuters
Denmark
At market exchange rate: 30 years
At purchasing-power parity: 40 years
Global rank: 5
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A view of Toronto Eaton Centre, a shopping mall, in Toronto.Photographs: Stringer/Reuters
Canada
At market exchange rate: 32 years
At purchasing-power parity: 38 years
Global rank: 6
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A street in Tokyo's Harajuku shopping district.Photographs: Yuriko Nakao/Reuters
Japan
At market exchange rate: 34 years
At purchasing-power parity: 46 years
Global rank: 7
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Forum des Halles shopping mall complex in central Paris.Photographs: John Schults/Reuters
France
At market exchange rate: 38 years
At purchasing-power parity: 48 years
Global rank: 8
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A couple looks into a shop window of a jeweller in the city centre of Frankfurt.Photographs: Lisi Niesner/Reuters
Germany
At market exchange rate: 40 years
At purchasing-power parity: 47 years
Global rank: 9
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A view of Oxford Street in central London.Photographs: Olivia Harris/Reuters
The United Kingdom
At market exchange rate: 47 years
At purchasing-power parity: 49 years
Global rank: 10
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A view of downtown Milan.Photographs: Alessandro Garofalo/Reuters
Italy
At market exchange rate: 48 years
At purchasing-power parity: 51 years
Global rank: 11
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A Zara store in central Madrid.Photographs: Andrea Comas/Reuters
Spain
At market exchange rate: 55 years
At purchasing-power parity: 55 years
Global rank: 12
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A cafe in Tel Aviv.Photographs: Baz Ratner/Reuters
Israel
At market exchange rate: 55 years
At purchasing-power parity: 60 years
Global rank: 13
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Apgujeong Rodeo Street in the Gangnam area of Seoul.Photographs: Lee Jae-Won/Reuters
South Korea
At market exchange rate: 58 years
At purchasing-power parity: 48 years
Global rank: 14
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: People walk outside the entrance of a shopping mall in Lisbon.Photographs: Jose Manuel Ribeiro/Reuters
Portugal
At market exchange rate: 80 years
At purchasing-power parity: 70 years
Global rank: 15
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A view of Santiago City.Photographs: Victor Ruiz Caballero/Reuters
Chile
At market exchange rate: 160 years
At purchasing-power parity: 130 years
Global rank: 16
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Istanbul's financial district.Photographs: Murad Sezer/Reuters
Turkey
At market exchange rate: 230 years
At purchasing-power parity: 148 years
Global rank: 17
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Women walk past shopping carts at a department store in Sofia.Photographs: Stoyan Nenov/Reuters
Bulgaria
At market exchange rate: 260 years
At purchasing-power parity: 125 years
Global rank: 18
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: Ice skaters on a rink in Mexico City's Zocalo square.Photographs: Edgard Garrido/Reuters
Mexico
At market exchange rate: 310 years
At purchasing-power parity: 205 years
Global rank: 19
Complete coverage: Union Budget 2013-14
Budget Impact Live!
...
How long it takes to become a millionaire? Find out
Image: A woman rides her bicycle past Romania's National Library in Bucharest.Photographs: Bogdan Cristel/Reuters
Romania
At market exchange rate: 349 years
At purchasing-power parity: 190 years
Global rank: 20
article