The 15 Countries With The Highest Concentration Of Millionaires

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Photo: Courtesy of Fullerton Bay Hotel

Millionaires represented 0.9% of households in 2010 but owned 39% of global wealth.In a new report, The Boston Consulting Group highlights 15 countries with the largest per cent of millionaire households. We highlighted the number of millionaire and ultra-high-net-worth households in these countries.

With global wealth growing 8% to $121.8 trillion in 2010, North America had the largest absolute gain rising to $38.2 trillion in assets under management (AUM). Wealth however grew the fastest in Asia-Pacific (excluding Japan) at 17.1%.

Note: Figures are for 2010

#15 United Kingdom

per cent of households with $1 million in wealth: 2.2%

The United Kingdom has 570,000 millionaire households, of which 738 were ultra-high-net-worth households with more than $100 million in assets under management (AUM).

Source: The Boston Consulting Group

#14 Netherlands

per cent of households with $1 million in wealth: 2.3%

Netherlands has 170,000 millionaire households, of which 278 are ultra-high-net-worth households with more than $100 million in AUM.

Source: The Boston Consulting Group

#13 Ireland

per cent of households with $1 million in wealth: 2.3%

Ireland had 19,000 high-net-worth-individuals (HNWI), 5% higher than in 2009. The increase in HNWI was attributed to an increase in national savings from 1% to 35.5%.

Source: The Boston Consulting Group

#12 Bahrain

per cent of households with $1 million in wealth: 2.6%

Bahrain saw a 24% jump in high-net-worth players, those that have $1 million in investible assets. It also had 6,700 high-net-worth-individuals in 2010.

Source: The Boston Consulting Group

#11 Japan

per cent of households with $1 million in wealth: 3%

With 1.5 million millionaire households Japan has the second largest number of millionaires. Wealth declined by 0.2% in the Japanese market and is expected decline further in 2011 and the pick up slowly for several years. In 2008, Japan accounted for over 50% of all the wealth in Asia-Pacific, a figure dropped to 44% in 2010.

Source: The Boston Consulting Group

#10 Belgium

per cent of households with $1 million in wealth: 3.1%

Belgium has the 14th highest concentration of ultra-high-net-worth households that have over $100 million in AUM. Over 10% of Belgian millionaires had their wealth in offshore banks in Luxembourg, in 2010, but many have been repatriating their wealth recently.

Source: The Boston Consulting Group

#9 Israel

per cent of households with $1 million in wealth: 3.4%

Israel has the 11th highest concentration of ultra-high-net-worth households that have over $100 million in AUM. 4 in 100,000 households is ultra-high-net-worth.

Source: The Boston Consulting Group

#8 Taiwan

per cent of households with $1 million in wealth: 3.5%

Taiwan has 280,000 millionaire households and many millionaires hold their wealth in offshore accounts. About 5% hold some of their wealth in accounts in the UK, Dublin, and Hong Kong and Singapore. Another 7% hold their wealth in accounts in the Caribbean and Panama.

Source: The Boston Consulting Group

#7 United States

per cent of households with $1 million in wealth: 4.5%

With 5.2 million millionaire households the U.S. has the highest number of millionaire households. Of these, 2,692 are ultra-high-net-worth households with more than $100 million in AUM.

Source: The Boston Consulting Group

#6 UAE

per cent of households with $1 million in wealth: 5%

The UAE has the 10th highest concentration of ultra-high-net-worth households that have over $100 million in AUM. Every 5 in 100,000 households has ultra-high-net-worth.

Source: The Boston Consulting Group

#5 Kuwait

per cent of households with $1 million in wealth: 8.5%

Kuwait has the fourth highest concentration of ultra-high-net-worth households that have over $100 million in AUM. Every 8 in 100,000 households is ultra-high-net-worth.

Source: The Boston Consulting Group

#4 Hong Kong

per cent of households with $1 million in wealth: 8.7%

Hong Kong has 200,000 millionaire households, of which 223 are ultra-high-net-worth households (UHNW) with more than $100 million in assets under manage met (AUM). With 9 in 100,000, Hong Kong also has the third highest concentration of UHNW households.

Source: The Boston Consulting Group

#3 Qatar

per cent of households with $1 million in wealth: 8.9%

Qatar has the sixth highest concentration of ultra-high-net-worth households that have over $100 million in AUM. 6 in 100,000 households is ultra-high-net-worth.

Source: The Boston Consulting Group

#2 Switzerland

per cent of households with $1 million in wealth: 9.9%

Switzerland has 330,000 millionaire households, of which 352 are ultra-high-net-worth households (UHNW) with more than $100 million in assets under manage met (AUM). With 10 in 100,000, Switzerland has the second highest concentration of UHNW households.

Source: The Boston Consulting Group

#1 Singapore

per cent of households with $1 million in wealth: 15.5%

Singapore has 170,000 millionaire households and has the ninth highest concentration of ultra-high-net-worth households that have over $100 million in AUM. 5 in 100,000 households is ultra-high-net-worth. Singapore is a destination for offshore wealth.

Source: The Boston Consulting Group

Now look at 16 countries where the rich get richer and the poor get poorer...

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