Countries with the wealthiest households


Wealthy Household

A new report by the Deloitte Centre for Financial Services claims that China and South Korea will soon be in the top ten countries for most individual millionaires.

The report took a look at which countries had the richest households, households with a net worth of $1 million and above.

The households of 25 countries were examined, namely those in: Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Italy, Japan, Malaysia, Mexico, the Netherlands, Norway, Poland, Russia, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Turkey, the United States of America and the United Kingdom.

One of the main findings of the report was that the rich were continuing to thrive despite worldwide tales of economic downturn. In fact, the report claims that the next ten years will see the worth of wealthy households double from a combined amount of £56 trillion to £123 trillion.

The projections by Deloitte see a number of countries increasing their number of millionaires over the next ten years, with Australia predicted to show the swiftest growth out of all emerging economies with an estimated 1.6 million multi-millionaires come 2020.

However, China and South Korea were predicted to see the biggest increases out of all emerging markets, and 2020 will see 1.48 million wealthy Chinese households surpassing the million mark, and a further 689,000 entering the $5 million- $30 million bracket.

Singapore will also make its presence felt on the global market, with Deloitte predicting that it will have the greatest per capita wealth by 2020, eclipsing the current leader, Switzerland.

However as one place rises another will drop, and not all economies were given predictions of growth. France is expected to have the smallest growth in millionaire households in the next ten years, and Spain was recorded as having the lowest number of super-rich, households with over $30 million, out of all the economies.