14 Countries Home to the Highest Number of Millionaires
We often see rich people on the news, in the media, or on social media, and sometimes, we envy their wealth. The question you should ask is, which countries have the most millionaires? How many millionaires live in these countries? It will surprise you to see certain countries, so let’s break down the top 14 countries with millionaires.
1. United States – 24.5 Million
The United States should not shock you at number one. It has the largest economy and has some of the best tax practices around the world, allowing its citizens to grow wealth quickly. The country continues to innovate and grow, but many more countries are starting to catch up.
2. China – 6.2 Million
China’s rise in the last couple of decades should come as no surprise. It became the world’s factory, bringing in companies from far and wide to help create income for its workforce. Many of the millionaires happen to be founders or high-level employees in companies contributing to their wealth.
3. Japan – 3.4 Million
Japan comes in third place with its third-largest GDP. As you can see, with large GDPs come more millionaires. Japan has been innovating for years. Its large companies, such as Sony and Toyota, have helped build this mega empire.
4. United Kingdom – 2.8 Million
The U.K. is tied with France for fourth place. They both have similar GDPs. The growth of the British empire and many other industries in the 20th century helped create millionaires in the U.K.
5. France – 2.8 Million
France has thrived like the U.K. Being a part of the EU helps grow their economy and millionaires within the country. As tourism ramps up in France, more and more people are taking advantage of growing their wealth.
6. Germany – 2.7 Million
Germany has the greatest economy in Europe and has dominated the auto industry and mechanical and chemical engineering sectors. Since the war, it has been rebuilt even stronger, creating a thriving economy for all the German people.
7. Canada – 2.3 Million
Canada is rich in oil, timber, and natural gas resources. These industries have led to the country creating much wealth. It has a GDP similar to Australia’s and has grown its share of millionaires to be on par with many of the top countries in the world.
8. Australia – 2.2 Million
Australia has been known as one of the richest countries for a while. Its many natural resources have led to the growth of its economy. The nation’s beauty has attracted many people to flock there and invest in real estate, which has lifted the prices for many people and created even more millionaires. Australia’s social welfare and retirement systems have allowed the older generations to save enough for retirement and spend more, building a great economy all around.
9. Italy 1.4 Million
Italy is a tourist’s dream. It is full of delicious food, wonderful wine, and many different old cities to tour and enjoy. Thanks to tourism and many other industries, Italy ranks 9th in the world for the largest economy. Since the economy is strong, many millionaires benefit from living in Italy.
10. South Korea – 1.3 Million
South Korea has grown in the last couple of decades. It is known as one of the four Asian Tiger countries. Samsung’s growth has led to the creation of jobs in electronics. While South Korea has Samsung, it also has two large automotive companies, Hyundai and Kia, which bring growth in another sector.
11. Switzerland – 1.2 Million
Switzerland has been known as a country that can be expensive, but that is not at all a bad thing since it has produced many millionaires. The service sector dominates the country’s economy, and it has sectors in pharmaceuticals. These parts of the economy contribute to the country’s overall wealth.
12. Netherlands -1.1 Million
The Netherlands derives most of its wealth from the tech industry. It has a lot of IT and tech jobs for many people. So, if you are looking for a tech job, the Netherlands could be a place to stop for a while.
13. Spain – 1.1 Million
Spain has one of the highest GDPs in the world, ranking at number 12. Their thriving tourism and automotive industries help to create a thriving economy that produces quite a few millionaires.
14. Taiwan – 870,000
It is pretty surprising to have Taiwan on this list. With a population of 24 million people, Taiwan has the largest ratio of millionaires on Earth. If you ever visit, you may notice some of the wealthy due to their expensive vehicles, and some have large homes. If you have time, visit this tiny island full of millionaires.
More Countries With Millionaires Soon Enough
Many countries are thriving, with most of the world able to travel, work from their computers, and enjoy tourism. As the world economy grows, more millionaires will spring up from various locations. India is one to look out for as it becomes a new world factory like China once was.
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