Several nations are set to see a surge in the number of millionaires as global wealth per adult continues to rise.
The Capgemini Research Institute’s World Wealth Report 2024 reveals that high-net-worth individuals and their collective wealth saw a marked increase in 2023.
The report highlights a 4.7 percent rise in global wealth among these individuals, which reached £64.9 trillion, while the number of ‘high-net individuals’ worldwide grew by 5.1 percent to 22.8 million.
This upward trend in wealth is expected to persist, even in the face of market volatility.
In line with this, the 2024 UBS Global Wealth Report estimates the current number of US dollar millionaires at around 58 million, representing 1.5 percent of the global adult population.
The report also notes that the US remains the leader in terms of the millionaire population, with approximately 21.95 million individuals holding seven-figure fortunes.
China follows with 6.01 million millionaires, while the UK (3.06 million), France (2.87 million), and Japan (2.83 million) round out the top five.
As countries continue to implement policies aimed at attracting millionaire migrants and boosting investment, the global millionaire population is projected to keep expanding at a steady pace over the next five years.
Taiwan came out on top of the list with a projected 47 percent growth in the country’s millionaire population by 2028.
