According to the Global Wealth Report 2024, millionaires will account for 1.5% of the adult population in 2023, with the US leading the way with nearly 22 million people, or 38% of the total.
Swiss financial services company UBS recently released its Global Wealth Report 2024, stating that millionaires will account for 1.5% of the adult population by 2023, with the US leading the way with nearly 22 million people, or 38% of the total.
China follows with just over 6 million, while the UK comes in third.
The report predicts that about 30% of the world's millionaires will come from emerging markets by 2028.
The number of millionaires will increase in 52 of the 56 markets analyzed, which is not limited to developed countries, the report said.
The report highlights the continued and steady growth in global wealth since 2008, despite the economic downturn and financial crisis.
Specifically, global wealth increased by 4.2% in 2023, compared to a 3% decline in 2022.
Notably, individuals with assets of $10,000-$100,000 have more than doubled, while those with assets exceeding $1 million have more than tripled.
The Asia-Pacific region has seen the fastest and strongest growth in wealth, while Latin America, despite strong growth, still faces inequality.
Average wealth per adult in Brazil has increased by more than 375% since the 2008 financial crisis, more than double Mexico's growth of more than 150% and higher than China's 366%.
In the personal market segment, Switzerland continues to top the list in terms of wealth per adult, followed by Luxembourg, Hong Kong (China) and the United States.
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