Top 10 Countries With The Fastest Growing Millionaire Population In The World

According to the Henley Private Wealth Migration Report 2024, several countries are steadily increasing their millionaire population to compete with global economic powerhouses such as the US and China.

According to Statista, the United States has the biggest number of dollar millionaires, with 22.7 million in 2022. This accounts for 6.7% of the country’s population. China is next on the list, with 6.2 million (0.4% of the population), followed by France, which has 2.8 million (4.2%).

According to Yahoo Finance, the number of worldwide millionaires reached 1% of adults in 2020. By 2027, the wealth per adult is forecast to reach $110,270, with an estimated 86 million people.

Credit Suisse’s Global Wealth Report 2023 provides a detailed picture of the steady growth of millionaire populations by country from 2013 to 2023.

RankCountryNumber of millionaires (2023)Change (2013–2023)
10New Zealand56,1000.48


The data shows a fall in the millionaire population in countries such as Nigeria and South Africa, indicating the lack of big African economies.

This has been linked to the region’s high emigration rate and economic instability.

Nigeria’s problem with currency devaluation has had a significant impact on its wealthy class, as seen by a 45% drop in the country’s millionaire population, while South Africa’s millionaire population fell by 20%.

Other countries that had a reduction in their wealthy population over the time were Japan (-6%), the United Kingdom (-8%), Russia (-24%), and Brazil (-28%).

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