Are You One Of The 0.21% Richest People In The World?

Lisa Smith, BA (Hons), CeFA
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If you are millionaire and billionaire, then you are one of the privileged 0.21% of the global population.

The latest United Nations estimate put the world population at 7.53 billion in September 2017.

While market research company New World Wealth reckons the number of wealthy individuals is just 15.2 million millionaires, 584,000 multi-millionaires with more than $10 million of assets and 2,252 billionaires.

In total global wealth is estimated at $215 trillion – an increase of 12% over 2017.

But New World Wealth points out that global wealth is built on shifting sands and often moves between countries and continents.

The list of countries with the largest wealth growth over the past decade may include some surprising names:

Countries adding the most wealth 2007 – 2017

RankingCountryWealth growth 2007 -17
1Vietnam210%
2China198%
3Mauritius195%
4Ethiopia190%
5India160%
6Sri Lanka133%
7Panama125%
8Uruguay117%
9Malta95%
10Indonesia92%

Source: New World Wealth

The list is a good indicator for investors of where to stake money when looking for the best overseas performance.

Success stories

“Vietnam, which had a 210% growth in wealth held over the last decade, is an emerging manufacturing hub. We project the market could grow a further 200% in the next 10 years, bolstered by strong growth in its local healthcare, manufacturing, and financial services sectors,” said a New World wealth spokesman.

“Mauritius is one of Africa’s brightest success stories, with a 195% growth in wealth over the last 10 years. With favourable tax policies, beautiful beaches, and better relative safety ratings, high net worth individuals have been moving to the island en masse.”

Just failing to make the cut are the developed economies of New Zealand and Australia.

“These two grew in wealth by 90% and 83% respectively over the past decade, which is extremely impressive for countries that already had a solid base of wealth to start with,” said the spokesman.

Countries losing the most wealth 2007 – 2017

RankingCountryWealth loss 2007 -17
1Venezuela-48%
2Greece-37%
3Italy-19%
4Spain-19%
5Norway-17%
6Portugal-13%
7Netherlands-12%
8France-11%
9Finland-11%
10Egypt-10%

 

Source: New World Wealth

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