Where are the World’s Millionaires?

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.

18. Austria

Number of Millionaires : 2,17,000

Population : 6.8 Million

Average Wealth : Rs. 33 Lakhs

17. Denmark

Number of Millionaires : 240,000

Population : 4.2 Million

Average Wealth : Rs. 33 Lakhs

 

16. Sweden

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
14. Belgium

Number of Millionaires : 307,000

Population : 8.47 Million

Average Wealth : Rs. 99 Lakhs

 

13. Taiwan

Number of Millionaires : 356,000

Population : 18.51 Million

Average Wealth : Rs. 40 Lakhs

 

12. Spain

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

 

10. Switzerland

Number of Millionaires : 716,000

Population : 6.9 Million

Average Wealth : Rs. 1.5 Crore

 

 

9. Australia

Number of Millionaires : 1.06 Million

Population : 17.12 Million

Average Wealth : RS. 1 Crore

 

8. Canada

Number of Millionaires : 1.17 Million

Population : 28 Million

Average Wealth : Rs. 62 Lakhs

 

7. Italy

Number of Millionaires : 1.13 Million

Population : 49.3 Million

Average Wealth : Rs. 67 Lakhs

 

6. China

Number of Millionaires : 1.59 Million

Population : 1.2 Billion

Average Wealth : Rs. 3 Lakhs

5. France

Number of Millionaires : 1.61 Million

Population : 48.6 Million

Average Wealth : Rs. 64 Million

 

4. Germany

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

 

2. Japan

Number of Millionaires : 2.8 Million

Population : 104.8 Million

Average Wealth : Rs. 77 Lakhs

 

1. USA

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.