The distribution of wealth across countries reveals a compelling hierarchy of affluence, as detailed in the Henley Private Wealth Migration Report 2024.
1. United States
Millionaires: 5,492,400
Centi-Millionaires: 9,850
Billionaires: 788
The United States leads globally with an unparalleled concentration of millionaires, centi-millionaires, and billionaires, reflecting its economic stature and opportunities for wealth accumulation.
2. China
Millionaires: 862,400
Billionaires: 305
China follows closely behind, showcasing significant growth in both millionaire and billionaire populations, aligning with its rapid economic expansion.
3. India
Millionaires: (Ranking 11th overall)
Billionaires: 120
India stands out with the world’s third-largest billionaire population despite its lower ranking in terms of millionaires, underscoring concentrated wealth within its economy.
4. Switzerland
Known for its status as an offshore financial center, Switzerland attracts wealthy individuals due to tax advantages, asset protection, and privacy, fostering a robust population of high net worth individuals.
5. Singapore
Similarly positioned as a global financial hub, Singapore benefits from favorable tax policies and financial infrastructure, attracting substantial external wealth and boosting economic activity.
The ranking of countries by HNWIs and billionaires not only reflects economic prowess but also highlights the role of financial centers in attracting global wealth. As wealth distribution evolves, these rankings provide insights into global economic trends and opportunities for growth.
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