UBS Global Wealth Report 2024: 58 Million HNW Population with $213 Trillion Wealth Representing 47.5% of Total Wealth, 2,664 Billionaires with $13.9 Trillion Wealth, Top 10 Countries with Most Millionaires are United States, China, United Kingdom, France, Japan, Germany, Canada, Australia, Italy & South Korea, Top 10 Asia Countries with Most Millionaires are China, Japan, Australia, South Korea, India, Taiwan, Hong Kong, Singapore, Indonesia & Thailand, Top 5 Countries Average Wealth – Switzerland $709,000, Luxembourg $607,000, Hong Kong $582,000, United States $564,000 & Australia $546,000, Top 5 Countries Median Wealth are Luxembourg $372,000, Australia $261,000, Belgium $256,000, Hong Kong $206,000 & New Zealand $202,000
16th August 2024 | Hong Kong
UBS has released the UBS Global Wealth Report 2024, providing key insights on global wealth, millionaires & billionaires. In 2023, there are 58 million HNW population (> $1 million) with $213.8 trillion wealth (47.5% of wealth), Individuals with $100k to $1 million – 613 million with $177.2 trillion wealth (39.4%), Individuals with $10k to $100k – 1.6 billion with $56.5 trillion wealth (12.6%), Individuals with less than $10k – 1.4 billion with $2.4 trillion wealth (0.5%). Billionaires with > $50 billion – 14 with $1.9 trillion wealth. Billionaires with $50 billion to $100 billion – 12 with $899 billion wealth. Billionaires with $1 billion to $50 billion – 2,638 with $11 trillion wealth. Total billionaires – 2,664 with $13.9 trillion wealth. Average Wealth Per Adult in 2023 – Americas $146,000, APAC $166,000, EMEA $146,000. 2023 Global Wealth by Region – Americas 37.3%, APAC 36.9%, EMEA 25.8%. 2023 HNW Wealth by Region (> $1 million) – Americas – 42.7%, APAC 26.4%, EMEA 30.9%. 2023 Affluent Wealth by Region ($100k to $1 million) – Americas 24.4%, APAC 45.2%, EMEA 30.4%. Total Transferable Wealth – $83.5 trillion. Transferable Wealth by Region – Americas $50.6 trillion, APAC $11.4 trillion, EMEA $21.4 trillion. Intra-generational wealth transfer (spouse, sibling) – $9.1 trillion. Inter-generational wealth transfer (next generation) – $74.3 trillion. Average Transferable Wealth – $330,000. Average Age of Transferor – 84 year-old. Average Age of Receiver – 59 year-old. Country with with Most Millionaires in 2023 – United States with 21.9 million. Country with with 2nd Most Millionaires in 2023 – China with 6 million. Country with with 3rd Most Millionaires in 2023 – United Kingdom with 3 million. Top 10 Countries with Most Millionaires in 2023 – United States, China, United Kingdom, France, Japan, Germany, Canada, Australia, Italy, South Korea. Top 10 Asia Countries with Most Millionaires in 2023 – China, Japan, Australia, South Korea, India, Taiwan, Hong Kong, Singapore, Indonesia, Thailand. Top 5 Countries Average Wealth – Switzerland $709,000, Luxembourg $607,000, Hong Kong $582,000, United States $564,000, Australia $546,000. Top 5 Countries Median Wealth (50th Percentile) – Luxembourg $372,000, Australia $261,000, Belgium $256,000, Hong Kong $206,000, New Zealand $202,000. Top 10 Wealth Growth from 2010 to 2023 (Selected Countries) – Kazakhstan +190%, China +185%, Qatar +157%, Israel +140%, India +133%, Hong Kong +127%, Indonesia +125%, United States +121%, Czechia + 113%, Hungary +109%. Top 10 Countries with Unequal Wealth – South Africa, Brazil, United Arab Emirates, Saudi Arabia, Sweden, United States, India, Mexico, Singapore, Indonesia. See below for key findings & summary | View report here
“ UBS Global Wealth Report 2024: 58 Million HNW Population with $213 Trillion Wealth Representing 47.5% of Total Wealth, 2,664 Billionaires with $13.9 Trillion Wealth, Top 10 Countries with Most Millionaires are United States, China, United Kingdom, France, Japan, Germany, Canada, Australia, Italy & South Korea, Top 10 Asia Countries with Most Millionaires are China, Japan, Australia, South Korea, India, Taiwan, Hong Kong, Singapore, Indonesia & Thailand, Top 5 Countries Average Wealth – Switzerland $709,000, Luxembourg $607,000, Hong Kong $582,000, United States $564,000 & Australia $546,000, Top 5 Countries Median Wealth are Luxembourg $372,000, Australia $261,000, Belgium $256,000, Hong Kong $206,000 & New Zealand $202,000 “
UBS Global Wealth Report 2024: 58 Million HNW Population with $213 Trillion Wealth Representing 47.5% of Total Wealth, 2,664 Billionaires with $13.9 Trillion Wealth, Top 10 Countries with Most Millionaires are United States, China, United Kingdom, France, Japan, Germany, Canada, Australia, Italy & South Korea, Top 10 Asia Countries with Most Millionaires are China, Japan, Australia, South Korea, India, Taiwan, Hong Kong, Singapore, Indonesia & Thailand, Top 5 Countries Average Wealth – Switzerland $709,000, Luxembourg $607,000, Hong Kong $582,000, United States $564,000 & Australia $546,000, Top 5 Countries Median Wealth are Luxembourg $372,000, Australia $261,000, Belgium $256,000, Hong Kong $206,000 & New Zealand $202,000
UBS has released the UBS Global Wealth Report 2024, providing key insights on global wealth, millionaires & billionaires. See below for key findings & summary | View report here
UBS Global Wealth Report 2024
Summary
- HNW with > $1 million – 58 million HNW population with $213.8 trillion wealth (47.5% of wealth)
- Individuals with $100k to $1 million – 613 million with $177.2 trillion wealth (39.4%)
- Individuals with $10k to $100k – 1.6 billion with $56.5 trillion wealth (12.6%)
- Individuals with less than $10k – 1.4 billion with $2.4 trillion wealth (0.5%)
- Billionaires with > $50 billion – 14 with $1.9 trillion wealth
- Billionaires with $50 billion to $100 billion – 12 with $899 billion wealth
- Billionaires with $1 billion to $50 billion – 2,638 with $11 trillion wealth
- Total billionaires – 2,664 with $13.9 trillion wealth
- Average Wealth Per Adult in 2023 – Americas $146,000, APAC $166,000, EMEA $146,000
- 2023 Global Wealth by Region – Americas 37.3%, APAC 36.9%, EMEA 25.8%
- 2023 HNW Wealth by Region (> $1 million) – Americas – 42.7%, APAC 26.4%, EMEA 30.9%
- 2023 Affluent Wealth by Region ($100k to $1 million) – Americas 24.4%, APAC 45.2%, EMEA 30.4%
- Total Transferable Wealth – $83.5 trillion
- Transferable Wealth by Region – Americas $50.6 trillion, APAC $11.4 trillion, EMEA $21.4 trillion
- Intra-generational wealth transfer (spouse, sibling) – $9.1 trillion
- Inter-generational wealth transfer (next generation) – $74.3 trillion
- Average Transferable Wealth – $330,000
- Average Age of Transferor – 84 year-old
- Average Age of Receiver – 59 year-old
Summary – Countries Millionaires & Wealth
- Country with with Most Millionaires in 2023 – United States with 21.9 million
- Country with with 2nd Most Millionaires in 2023 – China with 6 million
- Country with with 3rd Most Millionaires in 2023 – United Kingdom with 3 million
- Top 10 Countries with Most Millionaires in 2023 – United States, China, United Kingdom, France, Japan, Germany, Canada, Australia, Italy, South Korea
- Top 10 Asia Countries with Most Millionaires in 2023 – China, Japan, Australia, South Korea, India, Taiwan, Hong Kong, Singapore, Indonesia, Thailand
- Top 5 Countries Average Wealth – Switzerland $709,000, Luxembourg $607,000, Hong Kong $582,000, United States $564,000, Australia $546,000
- Top 5 Countries Median Wealth (50th Percentile) – Luxembourg $372,000, Australia $261,000, Belgium $256,000, Hong Kong $206,000, New Zealand $202,000
- Top 10 Wealth Growth from 2010 to 2023 (Selected Countries) – Kazakhstan +190%, China +185%, Qatar +157%, Israel +140%, India +133%, Hong Kong +127%, Indonesia +125%, United States +121%, Czechia + 113%, Hungary +109%
- Top 10 Countries with Unequal Wealth – South Africa, Brazil, United Arab Emirates, Saudi Arabia, Sweden, United States, India, Mexico, Singapore, Indonesia
UBS Global Wealth Report 2024
1) Global Wealth Overview
2023 Global Wealth Population
- HNW with > $1 million – 58 million (1.5% of population)
- $100 k to $1 million – 613 million (16.3%)
- $10k to $100k – 1.6 billion (42.7%)
- Less than $10k – 1.4 billion (39.5%)
2023 Wealth Distribution
- 58 million HNW with > $1 million – $213.8 trillion wealth (47.5% of wealth)
- 613 million with $100 k to $1 million – $177.2 trillion wealth (39.4%)
- 1.6 trillion with $10k to $100k – $56.5 trillion wealth (12.6%)
- 1.4 trillion with less than $10k – $2.4 trillion wealth (0.5%)
2023 Billionaire Population:
- More than $50 billion – 14
- $50 billion to $100 billion – 12
- $1 billion to $50 billion – 2,638
- Total billionaires – 2,664
Billionaires Wealth 2023 Total Wealth:
- 14 billionaires with > $100 billion – $1.9 trillion wealth
- 12 billionaires with $50 billion to $100 billion – $899 billion wealth
- 2,638 billionaires with $1 billion to $50 billion – $11 trillion wealth
- Total billionaires wealth – $13.9 trillion wealth
Billionaires Wealth Ownership:
- More than $50 billion – 0.52% of billionaires own 14.3% of total billionaires wealth
- $50 billion to $100 billion – 0.45% of billionaires own 6.5% of total billionaires wealth
- $1 billion to $50 billion – 99.3% of billionaires own 79.4% of total billionaires wealth
- 1% of billionaires (0.97%) own 20.8% of total billionaires wealth
- 26 billionaires of 2,664 billionaires own 20.8% ($2.8 trillion) of total billionaires wealth ($13.9 trillion)
Average Wealth Per Adult in 2023:
- Americas – $146,000
- APAC – $166,000
- EMEA – $146,000
2) Wealth by Region
2023 Millionaires by Region:
- United States – 38%
- Western Europe ex-UK – 23%
- Greater China – 13%
- Japan – 5%
- United Kingdom – 5%
- Southeast Asia – 10%
- Other – 7%
2023 Global Wealth by Region:
- Americas – 37.3%
- APAC – 36.9%
- EMEA – 25.8%
2023 HNW Wealth by Region (> $1 million):
- Americas – 42.7%
- APAC – 26.4%
- EMEA – 30.9%
2023 Affluent Wealth by Region ($100k to $1 million):
- Americas – 24.4%
- APAC – 45.2%
- EMEA – 30.4%
EMEA ~ Europe, Middle East, and Africa
3) Global Wealth Growth
Wealth Growth Per Adult in 2023:
- Americas: +3.6%
- APAC: +4.4%
- EMEA: +4.8%
- Global: +4.2%
Wealth Growth Per Adult Since 2008:
- Americas: +110%
- APAC: +122%
- EMEA: +41%
Global Debt Growth Since 2008:
- Americas: +48.6%
- APAC: +192.2%
- EMEA: +8.7%
4) Wealth Insights
Wealth Mobility (Year 2000 to 2030):
- Chance of upgrading from lowest wealth bracket – 61.7%
- Risk of falling out of highest wealth bracket – 51.6%
- Chance of moving up from middle wealth bracket – 37.7%
Wealth Transfer
- Total Wealth Transfer (Next 20 to 25 years) – $83.5 trillion
- Average Transferable Wealth – $330,000
- Average Age of Transferor – 84 year-old
- Average Age of Receiver – 59 year-old
Transferable Wealth:
- Americas – $50.6 trillion
- APAC – $11.4 trillion
- EMEA – $21.4 trillion
- Total – $83.5 trillion
Transferable Wealth:
- Intra-generational wealth transfer (spouse, sibling) – $9.1 trillion
- Inter-generational wealth transfer (next generation) – $74.3 trillion
5) Millionaire Population
Countries with Most Millionaires in 2023:
- United States – 21.9 million
- China – 6 million
- United Kingdom – 3 million
- France – 2.8 million
- Japan – 2.8 million
- Germany – 2.8 million
- Canada – 1.9 million
- Australia – 1.9 million
- Italy – 1.3 million
- South Korea – 1.2 million
- Netherlands – 1.2 million
- Spain – 1.1 million
- Switzerland – 1 million
- India – 868,000
- Taiwan – 788,000
- Hong Kong – 629,000
- Sweden – 575,000
- Belgium – 563,000
- Russia – 381,000
- Brazil – 380,000
- Saudi Arabia – 351,000
- Singapore – 333,000
- Mexico – 331,000
- Norway – 253,000
- United Arab Emirates – 202,000
- Israel – 179,000
- Indonesia – 178,000
- Portugal – 171,000
- Thailand – 100,000
- South Africa – 90,000
- Chile – 81,000
- Greece – 80,000
- Turkey – 60,000
- Kazakhstan – 44,000
- Qatar – 26,000
- Hungary – 24,000
Top 10 APAC Countries with Most Millionaires in 2023:
- China – 6 million
- Japan – 2.8 million
- Australia – 1.9 million
- South Korea – 1.2 million
- India – 868,000
- Taiwan – 788,000
- Hong Kong – 629,000
- Singapore – 333,000
- Indonesia – 178,000
- Thailand – 100,000
Countries with Most Millionaires in 2028:
- United States – 25.4 million
- China – 6.5 million
- Japan – 3.6 million
- France – 3.3 million
- Germany – 3.2 million
- United Kingdom – 2.5 million
- Canada – 2.4 million
- Australia – 2.3 million
- South Korea – 1.6 million
- Italy – 1.4 million
- Spain – 1.3 million
- Switzerland – 1.2 million
- Netherlands – 1.1 million
- Taiwan – 1.1 million
- India – 1 million
- Hong Kong – 737,000
- Sweden – 703,000
- Belgium – 653,000
- Brazil – 463,000
- Russia – 461,000
- Mexico – 411,000
- Saudi Arabia – 403,000
- Singapore – 375,000
- Norway – 308,000
- Indonesia – 235,000
- United Arab Emirates – 232,000
- Israel – 226,000
- Portugal – 189,000
- Thailand – 123,000
- South Africa – 108,000
- Chile – 95,000
- Turkey – 87,000
- Greece – 80,000
- Kazakhstan – 60,000
- Qatar – 29,000
- Hungary – 28,000
Top 10 APAC Countries with Most Millionaires in 2028:
- China – 6.5 million
- Japan – 3.6 million
- Australia – 2.3 million
- South Korea – 1.6 million
- Taiwan – 1.1 million
- India – 1 million
- Hong Kong – 737,000
- Singapore – 375,000
- Indonesia – 235,000
- Thailand – 123,000
6) Average Wealth
Top 25 Countries Average Wealth:
- Switzerland – $709,000
- Luxembourg – $607,000
- Hong Kong – $582,000
- United States – $564,000
- Australia – $546,000
- Denmark – $448,000
- New Zealand – $408,000
- Singapore – $397,000
- Norway – $382,000
- Canada – $375,000
- Belgium – $362,000
- Netherlands – $361,000
- United Kingdom – $350,000
- France – $329,000
- Sweden – $319,000
- Taiwan – $302,000
- Germany – $264,000
- Israel – $260,000
- Austria – $255,000
- Ireland – $249,000
- Korea – $245,000
- Spain – $225,000
- Japan – $220,000
- Italy – $220,000
- Qatar – $199,000
Top 25 Countries Median Wealth (50th Percentile):
- Luxembourg – $372,000
- Australia – $261,000
- Belgium – $256,000
- Hong Kong – $206,000
- New Zealand – $202,000
- Denmark – $193,000
- Switzerland – $171,000
- United Kingdom – $163,000
- Norway – $152,000
- Canada – $142,000
- France – $140,000
- Netherlands – $116,000
- Italy – $113,000
- United States – $112,000
- Spain – $111,000
- Taiwan – $110,000
- Japan – $106,000
- Singapore – $104,000
- Malta – $102,000
- Korea – $95,000
- Ireland – $95,000
- Qatar – $92,000
- Finland – $87,000
- Sweden – $82,000
- Slovenia – $81,000
7) Fastest Wealth Growth
Top Wealth Growth from 2010 to 2023 (Selected Countries):
- Kazakhstan: +190%
- China: +185%
- Qatar: +157%
- Israel: +140%
- India: +133%
- Hong Kong: +127%
- Indonesia: +125%
- United States : +121%
- Czechia: + 113%
- Hungary: +109%
- Taiwan: +108%
- Singapore: +106%
- Saudi Arabia: + 95%
- Mexico: +91%
- Thailand: +79%
- United Arab Emirates: +69%
- Sweden: + 66%
- Australia: +66%
- Switzerland: +65%
- Canada: +64%
- Russia: +58%
- United Kingdom: +57%
- Brazil: + 55%
- Germany: +51%
- Portugal: + 48%
- Chile: +48%
- South Africa: +30%
- Belgium: +28%
- France: +22%
- Turkey: +11%
8) Wealth Inequality
2023 Wealth Inequality by Countries:
- South Africa – 82
- Brazil – 81
- United Arab Emirates – 77
- Saudi Arabia – 77
- Sweden – 75
- United States – 75
- India – 73
- Mexico – 72
- Singapore – 70
- Indonesia – 68
- Germany – 68
- Switzerland – 67
- Austria – 65
- Netherlands – 64
- Finland – 64
- Israel – 64
- Hong Kong – 63
- Denmark – 62
- United Kingdom – 61
- Taiwan – 61
- China – 60
- France – 59
- Italy – 57
- Korea – 57
- Spain – 57
- Japan – 54
- Australia – 54
- Qatar – 48
- Belgium – 46
Wealth Inequality is measured by Gini index ~ Higher score indicates higher inequality, a lower score indicates a more equal distribution of wealth.
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