The Fastest Growing Millionaire Populations, by Country
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
The world’s economic powerhouses, like the U.S. or China, hold the majority of millionaires in absolute terms. But which countries are growing their millionaire populations at the fastest rate?
This chart shows the growth of millionaire populations by country between 2013 and 2023, using data from New World Wealth, as detailed in the Henley Private Wealth Migration Report 2024.
Specifically, the report tracks high-net-worth individuals (HNWIs) who possess liquid investable wealth of $1 million USD or more. The figures are rounded to the nearest hundred and represent residents of each country as of December 2023.
Emerging Markets Like Vietnam Top the Ranking
While the United States remains the leader with over 5.4 million millionaires, emerging economies such as Vietnam, China, and India are seeing the fastest growth rates.
Vietnam’s millionaire population, in particular, has surged by 98% over the last decade, reflecting the country’s rapid economic development. Meanwhile, China and India have created hundreds of thousands of new millionaires, solidifying their positions as major players in the global wealth landscape.
| Rank | Country | Number of millionaires (2023) | Change (2013–2023) |
|---|---|---|---|
| 1 | 🇻🇳 Vietnam | 19,400 | +98% |
| 2 | 🇨🇳 China | 862,400 | +92% |
| 3 | 🇲🇺 Mauritius | 5,100 | +87% |
| 4 | 🇮🇳 India | 326,400 | +85% |
| 5 | 🇦🇪 UAE | 116,500 | +77% |
| 6 | 🇲🇹 Malta | 10,200 | +74% |
| 7 | 🇲🇨 Monaco | 15,600 | +68% |
| 8 | 🇸🇬 Singapore | 244,800 | +64% |
| 9 | 🇺🇸 USA | 5,492,400 | +62% |
| 10 | 🇳🇿 New Zealand | 56,100 | +48% |
| 11 | 🇹🇼 Taiwan | 62,600 | +42% |
| 12 | 🇨🇭 Switzerland | 427,700 | +38% |
| 13 | 🇦🇺 Australia | 383,300 | +35% |
| 14 | 🇸🇦 Saudi Arabia | 58,300 | +35% |
| 15 | 🇵🇹 Portugal | 67,200 | +32% |
| 16 | 🇨🇦 Canada | 371,200 | +29% |
| 17 | 🇰🇷 South Korea | 109,600 | +28% |
| 18 | 🇮🇹 Italy | 289,300 | +16% |
| 19 | 🇩🇪 Germany | 806,100 | +15% |
| 20 | 🇫🇷 France | 506,000 | +14% |
| 21 | 🇬🇷 Greece | 64,700 | +14% |
| 22 | 🇪🇸 Spain | 106,300 | +6% |
| 23 | 🇭🇰 Hong Kong (SAR China) | 143,400 | -4% |
| 24 | 🇯🇵 Japan | 754,800 | -6% |
| 25 | 🇬🇧 United Kingdom | 602,500 | -8% |
| 26 | 🇿🇦 South Africa | 37,400 | -20% |
