Once upon a time, earning a Million dollars was seen as an amazing achievement. While it is still extremely desirable, it isn’t as unique as it used to be.
Nearly 33 million people across the world now claim wealth in excess of a $1 Million, according to the esteemed Credit Suisse in it’s recently published ‘Global Wealth Databook’.
The United States alone have 13.6 million people with a net worth of over $1 million – that’s 41% of all the world’s millionaires and more than the next eight countries combined. Innovation and trends start there, as it has been the scenario for the last 50 years.
Switzerland has the most millionaires per population capita: Nearly 12% of the adults in the country are millionaires, or one out of every 8.6 people!
The millionaire population isn’t necessarily a indicator of the average wealth of the entire population. Despite having the most millionaires by a huge margin, the average wealth for adults in the US is only Rs. 29 Lakhs. Of the 18 countries with more than 200,000 millionaires, that’s a lower average wealth figure than all but Germany ( Rs. 27 Lakhs), Sweden (Rs. 25 Lakhs), andChina (Rs. 3 Lakhs).
Below are the 18 countries with the most millionaires – that’s all assets 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.
Number of Millionaires : 2,17,000
Population : 6.8 Million
Average Wealth : Rs. 33 Lakhs
Number of Millionaires : 240,000
Population : 4.2 Million
Average Wealth : Rs. 33 Lakhs
Number of Millionaires : 285,000
Population : 7.41 Million
Average Wealth : Rs. 25 Lakhs
15. The Netherlands
Number of Millionaires : 287,000
Population : 13.08 Million
Average Wealth : Rs. 52 Lakhs
Number of Millionaires : 307,000
Population : 8.47 Million
Average Wealth : Rs. 99 Lakhs
Number of Millionaires : 356,000
Population : 18.51 Million
Average Wealth : Rs. 40 Lakhs
Number of Millionaires : 386,000
Population : 37.9 Million
Average Wealth : Rs. 36 Lakhs
11. South Korea
Number of Millionaires : 679,000
Population : 39.26 Million
Average Wealth : Rs. 41 Lakhs
Number of Millionaires : 716,000
Population : 6.9 Million
Average Wealth : Rs. 1.5 Crore
Number of Millionaires : 1.06 Million
Population : 17.12 Million
Average Wealth : RS. 1 Crore
Number of Millionaires : 1.17 Million
Population : 28 Million
Average Wealth : Rs. 62 Lakhs
Number of Millionaires : 1.13 Million
Population : 49.3 Million
Average Wealth : Rs. 67 Lakhs
Number of Millionaires : 1.59 Million
Population : 1.2 Billion
Average Wealth : Rs. 3 Lakhs
Number of Millionaires : 1.61 Million
Population : 48.6 Million
Average Wealth : Rs. 64 Million
Number of Millionaires : 1.6 Million
Population : 67 Million
Average Wealth : Rs, 27 Lakhs
3. United Kingdom
Number of Millionaires : 2.25 Million
Population : 49 Million
Average Wealth : Rs, 69 Lakhs
Number of Millionaires : 2.8 Million
Population : 104.8 Million
Average Wealth : Rs. 77 Lakhs
Number of Millionaires : 13.5 Million
Population : 245 Million
Average Wealth : Rs. 29 Lakhs
India is a long way off this list thanks to our country’s relative recent independence, huge population and poor utilisation of resources. We are currently home to 84,000 Millionaires.