1 in 10 people in Switzerland are millionaires
The UBS Global Wealth Report 2023 reveals that global wealth is growing again after a decline in 2022. Since 2000, the percentage of adults with less than $10,000 has almost halved, while those in the $10,000-$100,000 bracket have doubled. This upward mobility is evident, with one in three people managing to improve their economic situation within ten years, although extreme changes remain rare.
The growth of millionaires worldwide
In 2023, millionaires accounted for 1.5% of the adult population of the countries analysed, and the number of millionaires is expected to grow in 52 of the 56 countries studied by UBS by 2028. The United States has the highest number of millionaires, with almost 22 million individuals, although Switzerland has the highest proportion of millionaires in relation to the population, with 12% of adults. Countries such as Hong Kong (8.4%), Australia (7.3%), and the Netherlands (6.9%) follow, showing significant concentrations of wealth
Which country will have the most millionaires?
Looking to the future, the United States will continue to lead in absolute terms, while Switzerland will retain the highest concentration of millionaires relative to its population. However, countries such as Hong Kong and Australia, with growing economies and supportive financial policies, could see a substantial increase in millionaires, increasingly focusing on high-yield investments and strategic asset management.
The growth of global wealth is a complex phenomenon, reflecting economic developments, financial education and access to sophisticated investment vehicles. In this context, Switzerland emerges as an example of prudent and strategic wealth management, while other countries are increasingly emerging as key players in the global future.