- See the ranked list of countries with the highest number of millionaires, coupled with the country's population and median wealth per person for reference.
- Visit Business Insider's homepage for more stories.
Minting a million-dollar fortune isn't the remarkable feat it used to be.
It remains a marker of immense wealth, but the club is growing ever more crowded, with nearly 47 million people across the globe now laying claim to fortunes in excess of $1 million, according to estimates by Credit Suisse in its most recent Global Wealth Databook.
The report shows that US alone claims 18.6 million adults with a net worth above $1 million — that's nearly 40% of all the world's millionaires and more than the next eight countries combined. In 2018, the US also welcomed 675,000 newcomers to the millionaire club, which accounts for more than half the global total of new millionaires. Notably, however, China, the country with the second-highest millionaire count, surpassed the US to become the country with the most people in the top 10% of global wealth distribution.
The millionaire population isn't necessarily an indicator of overall wealth within a country, though. Despite having the most millionaires by a gaping margin, the report indicates that the median wealth for adults in the US is $65,904. The median wealth for adults in China is $20,942. Of the 18 countries with more than 300,000 millionaires, that's a lower median wealth figure than all but India ($3,042).
Below, Business Insider has ranked the 18 countries with the most millionaires — that's all fortunes above $1 million, including the billionaires — based on Credit Suisse's annual wealth report. We've also included the country's population and median wealth for comparison purposes. The countries are listed in ascending order of number of millionaires.
18. Austria
Number of millionaires: 313,000
Adult population: 7.09 million
Median wealth per adult: $94,070
17. Sweden
Number of millionaires: 374,000
Adult population: 7.72 million
Median wealth per adult: $41,582
16. Hong Kong SAR
Number of millionaires: 516,000
Adult population: 6.27 million
Median wealth per adult: $146,887
15. Taiwan
Number of millionaires: 528,000
Adult population: 19.3 million
Median wealth per adult: $70,191
14. South Korea
Number of millionaires: 741,000
Adult population: 42 million
Median wealth per adult: $72,198
13. India
Number of millionaires: 759,000
Adult population: 866 million
Median wealth per adult: $3,042
12. Switzerland
Number of millionaires: 810,000
Adult population: 7 million
Median wealth per adult: $227,891
11. The Netherlands
Number of millionaires: 832,000
Adult population: 13.33 million
Median wealth per adult: $31,057
10. Spain
Number of millionaires: 979,000
Adult population: 37.45 million
Median wealth per adult: $95,360
9. Australia
Number of millionaires: 1,180,000
Adult population: 19 million
Median wealth per adult: $181,361
8. Canada
Number of millionaires: 1,322,000
Adult population: 29 million
Median wealth per adult: $107,004
7. Italy
Number of millionaires: 1,496,000
Adult population: 48.5 million
Median wealth per adult: $91,889
6. France
Number of millionaires: 2,071,000
Adult population: 49.72 million
Median wealth per adult: $101,942
5. Germany
Number of millionaires: 2,187,000
Adult population: 68 million
Median wealth per adult: $35,313
4. United Kingdom
Number of millionaires: 2,460,000
Adult population: 51 million
Median wealth per adult: $97,452
3. Japan
Number of millionaires: 3,025,000
Adult population: 105 million
Median wealth per adult: $110,408
2. China
Number of millionaires: 4,447,000
Adult population: 1.09 billion
Median wealth per adult: $20,942
1. United States
Number of millionaires: 18,614,000
Adult population: 245 million
Median wealth per adult: $65,904
Comments
Post a Comment