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Millionaire boom: Which countries are getting richer?

October 22, 2013 08:39 IST

Millionaire boom: Which countries are getting richer?

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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.

Click NEXT to see the rise in number of millionaires in India and China…


Image: A model poses with a special edition of luxury magazine "Royal Report" in Prague.
Photographs: Petr Josek Snr/Reuters

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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.

Click NEXT to read more…


Photographs: Reuters

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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…


Photographs: Reuters
Tags: China

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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.

Click NEXT to read more…


Image: People surround the original Batmobile during the Barrett-Jackson collectors car auction in Scottsdale, Arizona.
Photographs: Joshua Lott/Reuters

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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.

Click NEXT to read more…


Image: A man looks at jewels displayed for auction after being pawned by their owners at the Credit Municipal public pawnbroker in Nice.
Photographs: Eric Gaillard/Reuters.

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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.

Click NEXT to read more…


Image: A Christie's employee poses with artworks by Barbara Hepworth "Curved Form" (L) and one of a pair of polychrome marble busts at Christie's auction house in London.
Photographs: Luke MacGregor/Reuters

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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.

Click NEXT to read more…


Image: Central Berlin, Germany.
Photographs: Thomas Peter/Reuters

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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.

Click NEXT to read more…

 


Image: People come out at Gangnam subway station in Seoul, South Korea.
Photographs: Lee Jae-Won/Reuters
Tags: Korea

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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.

Click NEXT to read more…


Image: Tourists take pictures with the Rodrigo de Freitas Lagoon in the background in Rio de Janeiro, Brazil.
Photographs: Ricardo Moraes/Reuters

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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.

Click NEXT to read more…


Image: Ice skaters on a rink in Mexico City's Zocalo Square, Mexico.
Photographs: Edgard Garrido/Reuters

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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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Image: A Singapore Airlines stewardess poses at a first class cabin seat during the launch of their new generation of cabin products at ChangiAirport in Singapore.
Photographs: Edgar Su/Reuters

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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.

Click NEXT to read more...


Image: French climber Alain Robert, a rock climber who has become famous for climbing known buildings worldwide, climbs the 215m (705 feet) high, 50 floors BakrieTower building in Jakarta.
Photographs: Supri/Reuters

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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.

Click NEXT to read more...


Image: A woman walks on the platform as a train arrives at Mayakovskaya metro station, which was built in 1938, in Moscow, Russia.
Photographs: Lucy Nicholson/Reuters

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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.

Click NEXT to read more...


Photographs: Paul Yeung/Reuters
Tags: Hong Kong

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Turkey 

Number of millionaires in 2013: 1,02,000

Number of millionaires in 2018: 1,58,000

Rise in millionaires: 55%

Click NEXT to read more...


Image: Turkish artist Yigit Yazici (R) fixes one of his artworks at his studio in Istanbul.
Photographs: Murad Sezer/Reuters

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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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Image: A view of Old Town in Wroclaw, southern-western Poland.
Photographs: Kacper Pempel/Reuters

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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.

Click NEXT to read more...


Image: The logo of Malaysia's low-cost airline AirAsia Berhad is pictured on a structure as its staff undergo training at its academy in Sepang outside Kuala Lumpur.
Photographs: Bazuki Muhammad/Reuters

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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.


Image: Santiago de Chile.
Photographs: Minh Nguyen/Reuters

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