The countries that are home to the most millionaires are also producing large numbers of new millionaires, according to the latest annual World Wealth Report from Capgemini and RBC Wealth Management.
Nearly 2 million people around the world joined the ranks of high-net-worth individuals in 2013, according to the report. High-net-worth individuals (HNWIs) are people with investable assets of $US1 million or more, excluding their primary residence and collectibles.
The U.S. and Japan, which were already home to nearly half of the world’s HNWI population, accounted for 55% of the HNWI population growth in 2013.
And the top four markets — the U.S., Japan, Germany, and China — accounted for nearly 70% of HNWI population growth in 2013.
Some other note able takeaways from the above graph:
- Mexico was the only one of the top 25 countries where the HNWI population declined. The report partly attributes this to negative turns in equity markets.
- Three of the BRIC markets dropped in 2013 due to low growth. Brazil dropped three spots, and India and Russia both dropped by two.
- Ireland and the United Arab Emirates (not in top 25) both grew their HNWI ranks by an impressive 25% thanks to growth in equity markets.