The Chart

This chart is showing the velocity of change in the population of millionaires in various countries over the past decade. It’s worth noting that percentage change is different from the overall number of millionaires in a country. The data comes from New World Wealth via the Henley Private Wealth Migration Report 2024. Here, the term “millionaire” refers to individuals with liquid investable wealth of USD 1 million or more.

5 Things to Know

1. Although the United States has had fairly average growth in its millionaire population, the country is still home to far and away the most millionaires on the planet
2. The big nations of China and India saw economic growth that created hundreds of thousands of new millionaires. China now has close to one million millionaires, and would be only the second country to pass that threshold (after the U.S.)
3. Given that Vietnam is still technically a communist nation, the number of millionaires started out small, but recent economic success is generating wealth within the country. Expect this number to stay high in coming years
4. Despite being a perennial destination for the world’s wealthy, the UK did see its millionaire population shrink slightly from 2013 to 2023
5. Big African economies like Nigeria and South Africa saw millionaires emigrate in recent years. Nigeria, in particular, is also grappling with currency devaluation.