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The 21 Countries with the Most Millionaires

The 21 Countries with the Most Millionaires

If you want to be a millionaire, it’s best to know a little bit more about the subject. It helps to know the score if you want to play the game.

If you can read this, most likely you can make it. It’s not going to be easy, but it’s also not that hard. I am on the journey myself, but I refuse to go alone. I want to help others, so I am okay with making it if it means I am adding value to others’ lives.

Improving your financial situation may involve a lot of complex actions, but it starts with a decision about two things. To be on the path to be a millionaire, you need to:

  1. Work harder
  2. Work smarter

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You might see this list similar to The 21 Largest Economies in the World. The top five are the same. You will also notice it is different — with a larger concentration in the older economies in Europe, and less in the newer economies in Asia and the Americas.

Out of this list, 11 are in Europe, 7 in Asia, and 2 in North America. There are no African countries on either list.

Without further ado, let’s look at the list.

Millionaires by Country

wealthy business man

This list shows rank, country, number of millionaires, and percentage of the population composed of millionaires in parenthesis.

21. Singapore: 269,925 (5.5%)

20. Denmark: 306,823 (6.7%)

19. Austria: 346,172 (4.8%)

18. Belgium: 514,859 (5.7%)

17. Hong Kong: 520,176 (8.3%)

16. Sweden: 570,439 (7.3%)

15. Taiwan: 608,997 (3.1%)

14. India : 697,655 (0.1%)

13. Switzerland: 1,034,918 (14.9%)

12. The Netherlands: 1,039,239 (7.7%)

11. South Korea: 1,052,204 (2.5%)

10. Spain: 1,146,911 (3.0%)

9. Italy: 1,479,830 (3.0%)

8. Canada: 1,681,969 (5.6%)

7. Australia: 1,804,644 (9.4%)

6. France: 2,468,939 (4.9%)

5. United Kingdom: 2,490,952 (4.7%)

4. Germany: 2,952,710 (4.3%)

3. Japan: 3,662,407 (3.5%)

2. China: 5,279,467 (0.5%)

1. United States of America: 21,951,202 (8.8%)

The data is courtesy of the Global Wealth Data Book provided by Credit Suisse.

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This content is for news and educational purposes only. It does not constitute trading advice. Past performance does not indicate future results. Do not invest more than you can afford to lose. The author of this article may hold assets mentioned in the piece.

Author

Alexandre Lores is a personal finance writer from Tampa Bay, Florida, with the goal to help one million people achieve financial freedom. He has spent over five years studying markets and economics, finding Bitcoin in 2017 and never turning back. He frequently appears on TV and in online news articles and is a regular Twitter spaces host.

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