The number of rich people in the world has quadrupled: where do the most millionaires live?

According to the new report of the Swiss bank UBS, the number of dollar millionaires in the world has quadrupled since 2000, reaching an impressive mark of 58 million people in 2023. This rate is significantly higher than the rate of reduction in extreme poverty, which decreased by about 60% over the same period.

The USA holds the lead with the largest number of dollar millionaires – 22 million, which is 6.6% of the country’s population. They are followed in the ranking by China, with 6 million millionaires (0.4% of the total population), and France with 2.9 million millionaires (4.2% of the population). China is showing its most impressive growth since 2000, increasing the number of millionaires by 150 times.

By 2028, UBS predicts an increase in the number of millionaires in most countries. The US expects to reach 25.43 million millionaires, France at 3.32 million, Japan at 3.63 million and Australia at 2.33 million. Germany and Canada also expect gains to 3.23 million and 2.40 million, respectively.

However, an increase in the number of millionaires is not predicted in all countries. Great Britain, for example, could lose about 500,000 millionaires by 2028, which is 17% of their number in 2023. The Netherlands also expects a small reduction.

It is worth noting that the growth of the number of millionaires in the world is taking place against the background of significant economic and social changes. Expanding access to financial markets, technological developments and globalization have contributed to the creation of new opportunities for enrichment. However, it also raises questions about social inequality, as the gap between rich and poor continues to widen.

Thus, while the rise in the number of millionaires is indicative of economic development, it also requires greater attention to the issues of redistributing wealth and ensuring equal opportunities for all sections of the population.