Millionaire Wealth Statistics by Country
Marketers Target Where Millionaires Live Not Who Millionaires Are
Jun 27, 2008
International marketers of such luxury products as private jets, diamonds, premium wines and liquors must be encouraged by the 6% global increase in millionaires last year.
In 2007, 10.1 million individuals worldwide held at least US$1 million in financial assets.
The Capgemini Group and Merrill Lynch also report that these global millionaires owned financial assets totalling $40.7 trillion, a 9.4% gain from 2006. The average millionaire is now worth more than $4 million, a new record.
Number of Millionaires by Region
The list below shows that over 63% of global millionaires live in mature regional economies in North America and Europe.
- North America … 3,300,000 millionaires – up 4.2% from 2006 (32.7% of worldwide millionaires)
- Europe … 3,100,000 millionaires – up 3.7% (30.7%)
- Asia-Pacific … 2,800,000 millionaires – up 8.7% (27.7%)
- Latin America … 400,000 millionaires – up 12.2% (4%)
- Middle East … 400,000 millionaires – up 15.6% (4%)
- Africa … 100,000 millionaires – up 10% (1%).
However, emerging markets including the Middle East and Latin America experienced the greatest percentage gains in new millionaires.
Millionaire Global Financial Assets By Region
Of the US$40.7 trillion in financial assets owned by millionaires globally, Latin America and the Middle East showed even more aggressive improvements than their increases in the number of millionaires.
- North America … US$11.7 trillion – up 4.4% from 2006 (28.7% of US$40.7 trillion total)
- Europe … $3,100,000 – up 5.3% (26%)
- Asia-Pacific … $2,800,000 – up 10.6% (23.3%)
- Latin America … 400,000 – up 20.4% (15.2%)
- Middle East … 400,000 – up 17.5% (4.2%)
- Africa … 100,000 – up 14.9% (2.5%).
Countries with the Most Millionaires
Half of the world’s millionaires live in America, Germany, UK, China or Canada.
- United States … 3,000,000 millionaires (29.7% of worldwide millionaires)
- Germany … 826,000 millionaires (8.2%)
- United Kingdom … 495,000 millionaires (4.9%)
- China … 415,000 millionaires (4.1%)
- Canada … 274,000 (2.7%)
- Australia … 172,000 (1.7%)
- Brazil … 143,000 (1.4%)
- Russia … 136,000 (1.3%)
- India … 123,000 (1.2%).
Countries with Fastest-Growing Number of Millionaires
The number of millionaires in the following 10 countries increased by an average of 17.4% in 2007.
- India … 123,000 millionaires – up 22.7% from 2006 (1.2% of worldwide millionaires)
- China … 415,000 millionaires – up 20.3% (4.1%)
- Brazil … 143,000 millionaires – up 19.1% (1.4%)
- South Korea … 118,000 millionaires – up 18.9% (1.2%)
- Indonesia … 23,000 millionaires – up 16.8% (0.2%)
- Slovakia … 4,000 millionaires – up 16% (0.04%)
- Singapore … 77,000 millionaires – up 15.3% (0.8%)
- United Arab Emirates … 78,000 millionaires – up 15.3% (0.8%)
- Czech Republic … 17,000 millionaires – up 15.1% (0.2%)
- Russia … 136,000 millionaires – up 14.4% (1.3%).
About 11.2% of all millionaires reside in one of the above nations.
BRIC Countries Show Greatest Wealth Improvements
The emerging BRIC block of countries (Brazil, Russia, India and China) represented about 817,000 millionaires in 2007. In aggregate, BRIC countries grew their number of millionaires by a world-leading 19.4% from 2006. Similarly, BRIC country millionaires increased their accumulated wealth by 25.1% last year.
With the global financial wealth of worldwide millionaires projected to reach US$59.1 trillion by 2012, international marketers of high-end luxury products would be wise to place a high priority on millionaire prospective clients in these BRIC countries.
References
This article presents independent calculations and insights based on statistical data and graphical presentations from Capgemini Group and Merrill Lynch’s World Wealth Report 2008.
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