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25 nations with most MILLIONAIRES by 2020

Last updated on: August 19, 2011 13:00 IST

25 nations with most MILLIONAIRES by 2020

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A study by New York-based Deloitte Center for Financial Services, titled The next decade in global wealth among millionaire households, says India is likely to experience the largest growth of a whopping 405 per cent in total millionaire wealth over the next decade.

The study says that emerging markets will see a significantly higher growth rate in millionaire households compared to developed markets.

The growth in millionaire wealth in India is expected to vary across different wealth cohorts, or groups.

The $5 million to $30 million cohort in India will likely see the greatest growth, at 161 per cent, while the $1 million to $5 million cohort and $30 million-plus cohorts follow closely with likely growth rates of 142 per cent and 115 per cent, respectively, over the next decade.

The $1 million to $5 million cohort will likely continue to dominate the share of millionaire households, with 73 per cent of millionaire households belonging to this cohort in 2020 in India.

While India ranks lower than the other BRIC nations in average density, the analysis suggests that the number of millionaire households in India will grow from 286,000 to 694,000 between 2011 and 2020, a growth rate of 143%.

This would include approximately 0.51 million millionaire households in $1 million to $5 million wealth cohort, 0.13 million millionaire households in $5 million to $30 million wealth cohort and 0.05 million millionaire households in the $30 million-plus cohort.

Additionally, the study indicates that the average wealth per household in India is almost 50 per cent higher than that of China.

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Photographs: Reuters
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China

According to the study, the number of millionaire households in China will grow from 1,312,000 to 2,500,000 between 2011 and 2020, a growth rate of 91%. China's wealth among millionaires will grow by 394 per cent.

The $30m+ cohort will likely see the greatest growth, at 609%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 85% and 48%, respectively, over the next decade.

However, the analysis suggests that the $1m-$5m cohort will continue to dominate the share of millionaire households, with 59% of millionaire households belonging to this cohort in 2020.

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The United States

According to this study, those in the $1m-$5m wealth cohort will reach 15.8 million households in 2020, a growth of 103% over the next decade.

The $5m-30m cohort is also likely to exhibit strong growth, at 83% over the next decade, while the $30 m+ cohort is expected to grow 24%.

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Brazil

The study suggests that the number of millionaire households in Brazil will grow from 303,000 to 1,001,000 between 2011 and 2020, a growth rate of 230 per cent.

The $1m-$5m cohort in Brazil will likely see the greatest growth, at 309%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 49% and 295%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 80% of millionaire households belonging to this cohort in 2020.

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Russia

As per Deloitte, the number of millionaire households in Russia will grow from 375,000 to 1,205,000 between 2011 and 2020, a growth rate of 221%.

The $1m-$5m cohort in Russia will likely see the greatest growth, at 273%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 80% and 133%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 83% of millionaire households belonging to this cohort in 2020.

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Malaysia

The Deloitte study suggests that the number of millionaire households in Malaysia will grow from 76,000 to 249,000 between 2011 and 2020, a growth rate of 228%.

The $1m-$5m cohort in Malaysia will likely see the greatest growth, at 305%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 47% and 100%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 85% of millionaire households belonging to this cohort in 2020.

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25 nations with most MILLIONAIRES by 2020

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Mexico

The number of millionaire households in Mexico will grow from 170,000 to 615,000 between 2011 and 2020, a growth rate of 262%, says the study.

The $30m+ cohort will likely see the greatest growth, at 540%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 309% and 111%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 82% of millionaire households belonging to this cohort in 2020.

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Poland

The analysis suggests that the number of millionaire households in Poland will grow from 50,000 to 126,000 between 2011 and 2020, a growth rate of 152%.

The $30m+ cohort will likely see the greatest growth, at 712%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 129% and 181%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 68% of millionaire households belonging to this cohort in 2020.

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South Korea

The study says that the number of millionaire households in South Korea will grow from 520,000 to 1,730,000 between 2011 and 2020, a growth rate of 233%.

As per the analysis, the $1m-$5m cohort in South Korea will see the greatest growth, at 246%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 158% and 197%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 87% of millionaire households belonging to this cohort in 2020.

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Taiwan

The number of millionaire households in Taiwan will grow from 719,000 to 1,264,000 between 2011 and 2020, a growth rate of 76%, according to the analysis.

The $30m+ cohort will likely see the greatest growth, at 181%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 73% and 135%, respectively, over the next decade.

The study also says that the $1m-$5m cohort will continue to dominate the share of millionaire households, with 94% of millionaire households belonging to this cohort in 2020.

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Turkey

The number of millionaire households in Turkey will grow from 273,000 to 601,000 between 2011 and 2020, a growth rate of 120%.

The $30m+ cohort in Turkey will likely see the greatest growth, at 179%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 142% and 19%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 85% of millionaire households belonging to this cohort in 2020.

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Australia

The Deloitte study says that the number of millionaire households in Australia will grow from 698,000 to1,620,000 between 2011 and 2020, a growth rate of 132%.

The $1m-$5m cohort will likely see the greatest growth, at 135%, while the $5m-$30m cohort and $30M+ cohorts will likely grow 107% and 102%, respectively, over the next decade.

According to the study, the $1m-$5m cohort will continue to dominate the share of millionaire households, with 90% of millionaire households belonging to this cohort in 2020.

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Canada

The study suggests that the number of millionaire households in Canada will grow from 1,745,000 to 2,413,000 between 2011 and 2020, a growth rate of 38%.

At 57%, the $30m+ cohort will likely see the greatest growth while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 39% and 28%, respectively, over the next decade.

However, the Deloitte study says that the $1m-$5m cohort will continue to dominate the share of millionaire households, with 89% of millionaire households belonging to this cohort in 2020.

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France

As per the study, the number of millionaire households in France will grow from 2,653,000 to 3,346,000 between 2011 and 2020, a growth rate of 26%.

At 116%, the $30m+ cohort will likely see the greatest growth, while the analysis suggests that the $1m-$5m cohort and $5m-$30m cohorts will grow 23% and 93%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 93% of millionaire households belonging to this cohort in 2020.

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Germany

The Deloitte study says that the number of millionaire households in Germany will grow from 3,485,000 to 5,789,000 between 2011 and 2020, a growth rate of 66%.

The $30m+ cohort will likely see the greatest growth, at 86%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 66% and 56%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 96% of millionaire households belonging to this cohort in 2020.

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Hong Kong

The Deloitte study says that the number of millionaire households in Hong Kong will grow from 711,000 to 1,178,000 between 2011 and 2020, a growth rate of 66%.

The $5m-$30m cohort will likely see the greatest growth, at 147%, while the $1m-$5m cohort and $30m+ cohorts will likely grow 49% and 31%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 74% of millionaire households belonging to this cohort in 2020.

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Italy

The study suggests that the number of millionaire households in Italy will grow from 2,476,000 to 3,552,000 between 2011 and 2020, a growth rate of 43%.

The $30m+ cohort will likely see the greatest growth, at 175%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 43% and 37%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 85% of millionaire households belonging to this cohort in 2020.

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Japan

The study suggests that the number of millionaire households in Japan will grow from 5,705,000 to 8,649,000 between 2011 and 2020, a growth rate of 52%.

According to the analysis, the $30m+ cohort will see the greatest growth, at 376%, while the $1m-$5m cohort and $5m-$30m cohorts will grow 45% and 153%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 91% of millionaire households belonging to this cohort in 2020.

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The Netherlands

The Deloitte study says that the number of millionaire households in Netherlands will grow from 713,000 to 959,000 between 2011 and 2020, a growth rate of 34%.

The $5m-$30m cohort will likely see the greatest growth, at 173%, while the $1m-$5m cohort and $30m+ cohorts will likely grow 25% and 81%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 86% of millionaire households belonging to this cohort in 2020.

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Norway

The analysis suggests that the number of millionaire households in Norway will grow from 178,000 to 319,000 between 2011 and 2020, a growth rate of 79%.

The $5m-$30m cohort will likely see the greatest growth, at 130%, while the $1m-$5m cohort and $30m+ cohorts will likely grow 74% and 69%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 87% of millionaire households belonging to this cohort in 2020.

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Singapore

The Deloitte study says that the number of millionaire households in Singapore will grow from 237,000 to 449,000 between 2011 and 2020, a growth rate of 90%.

The $30m+ cohort will likely see the greatest growth, at 315%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 95% and 41%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 82% of millionaire households belonging to this cohort in 2020.

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Spain

The study suggests that the number of millionaire households in Spain will grow from 1,022,000 to 1,602,000 between 2011 and 2020, a growth rate of 57%.

The $30m+ cohort will likely see the greatest growth, at 84%, while the $1m-$5m cohort and $5m-$30m cohorts will likely grow 58% and 41%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 90% of millionaire households belonging to this cohort in 2020.

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Sweden

The Deloitte study says that the number of millionaire households in Sweden will grow from 252,000 to 422,000 between 2011 and 2020, a growth rate of 67%.

The study suggests that the $5m-$30m cohort will see the greatest growth, at 88%, while the $1m-$5m cohort and $30m+ cohorts will grow 67% and 27%, respectively, over the next decade.

The $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 83% of millionaire households belonging to this cohort in 2020.

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Switzerland

The study suggests that the number of millionaire households in Switzerland will grow from 573,000 to 872,000 between 2011 and 2020, a growth rate of 52%.

The Deloitte study says that the $30m+ cohort will see the greatest growth, at 134%, while the $1m-$5m cohort and $5m-$30m cohorts will grow 40% and 103%, respectively, over the next decade.

However, the $1m-$5m cohort will likely continue to dominate the share of millionaire households, with 75% of millionaire households belonging to this cohort in 2020.

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United Kingdom

The Deloitte study says that the number of millionaire households in the United Kingdom will grow from 2,904,000 to 3,814,000 between 2011 and 2020, a growth rate of 31%.

Similar to Australia, but unlike other DM economies included in this study, the $1m-$5m cohort in the United Kingdom will likely see the greatest growth, at 32%, while the $5m-$30m cohort and $30m+ cohorts will likely grow 20% and 27%, respectively, over the next decade.

The study suggests that the $1m-$5m cohort will continue to dominate the share of millionaire households, with 97% of millionaire households belonging to this cohort in 2020.


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