Global Millionaire Count to Surge Despite Wealth Inequality, UBS Report Reveals
According to the annual report by Swiss Bank UBS, the number of dollar millionaires keeps on rising in the globe despite global wealth inequality. UBS did a survey in 56 countries and found out that millionaires are going to increase a lot by 2028 in 52 countries. In The Netherlands and UK, the number of millionaires is going to decrease by 2028 and there will be 17% less millionaires in 2028 than 2023 in these two countries.
The USA has the most number of millionaires right now. It had 7.64 million millionaires in the USA in 2000 but now 21.95 million people from the total population are millionaires in 2023. This number will increase up to 25.43 million by 2028. 0.4% of China’s population are millionaires which makes six million total millionaires in the country. France is followed by China with 2.9 million people being millionaires in 2023.
Other countries with the most number of millionaires in 2023 are Japan (2.83 million), Germany (2.82 million), UK (3.06 million), Canada (1.99 million) and Australia (1.94 million). In 2000 or early 21st century, there were just 14.7 million total millionaires in the countries which have been analyzed. In 2023, there are about 58 million total millionaires in all these countries.
| USD Millionaires (current and forecast) | |||
|---|---|---|---|
| Country | 2023 | 2028 | 2023–2028 |
| Taiwan | 788,799 | 1,158,239 | 47% |
| Türkiye | 60,787 | 87,077 | 43% |
| Kazakhstan | 44,307 | 60,874 | 37% |
| Indonesia | 178,605 | 235,136 | 32% |
| Japan | 2,827,956 | 3,625,208 | 28% |
| South Korea | 1,295,674 | 1,643,799 | 27% |
| Israel | 179,905 | 226,226 | 26% |
| Mexico | 331,538 | 411,652 | 24% |
| Thailand | 100,001 | 123,531 | 24% |
| Sweden | 575,426 | 703,216 | 22% |
| India | 868,671 | 1,061,463 | 22% |
| Brazil | 380,585 | 463,797 | 22% |
| Norway | 253,085 | 308,247 | 22% |
| Russia | 381,726 | 461,487 | 21% |
| Canada | 1,991,416 | 2,402,200 | 21% |
| Australia | 1,936,114 | 2,334,015 | 21% |
| South Africa | 90,595 | 108,557 | 20% |
| Switzerland | 1,054,293 | 1,253,334 | 19% |
| Hong Kong SAR | 629,155 | 737,716 | 17% |
| Chile | 81,274 | 95,173 | 17% |
| France | 2,868,031 | 3,322,460 | 16% |
| United States | 21,951,319 | 25,425,792 | 16% |
| Belgium | 564,666 | 653,881 | 16% |
| Saudi Arabia | 351,855 | 403,874 | 15% |
| UAE | 202,201 | 232,067 | 15% |
| Germany | 2,820,819 | 3,229,283 | 14% |
| Hungary | 24,692 | 28,260 | 14% |
| Qatar | 26,163 | 29,927 | 14% |
| Singapore | 333,204 | 375,725 | 13% |
| Spain | 1,180,703 | 1,327,797 | 12% |
| Portugal | 171,797 | 189,235 | 10% |
| Italy | 1,338,142 | 1,461,731 | 9% |
| Mainland China | 6,013,282 | 6,505,669 | 8% |
| Greece | 80,655 | 80,295 | −0.45% |
| Netherlands | 1,231,625 | 1,179,328 | −4% |
| United Kingdom | 3,061,553 | 2,542,464 | −17% |
Read next: 2024 Data Shows Decreasing Global Wealth in Most of the Countries this Decade
