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
by Arooj Ahmed via Digital Information World