The World Wealth Report 2015 compiled by Capgemini shows that despite the tough global economy, the number of dollar millionaires increased to 15.4 million individuals across the globe.
The wealth report is based on global wealth data and an insights survey that queried over 5,100 HNWIs in 23 major wealth markets across the world, including South Africa.
The 2016 report (looking at data for 2015) marks the 20th year the report has been published. Over the past 20 years, global wealth held by high net worth individuals (HWNIs – with a net worth over $1 million) has increased from $16.6 trillion in 1996 to $58.7 trillion in 2015.
“The remarkable resiliancy of HNWI wealth growth is the standout feature of our review of the last 20 years of the World Wealth Report,” Capgemini said.
“Despite going through the biggest contraction of the global financial markets (in 2008) since the Great Depression, global HNWI wealth expanded by almost four times.”
This was primarily powered by a sharp rise in manufacturing and economic activity in China, the group noted.
Here are 10 facts about global wealth from the report.
- At the end of 2015, there were 15.4 million millionaires in the world – an increase of 720,000 millionaires from 2014.
- Every region in the world saw an increase in millionaire numbers between 2014 and 2015, except for Africa and Latin America – though both decreases were off an already low base.
- The Asia Pacific region has more millionares than North America (32.1% vs 29.3% of all HWNIs) – but the United States is still the country that is home to the most wealthy individuals with 4.35 million millionaires.
- The top four millionaire nations – USA, Japan, Germany and China – account for 61.2% of all millionaires in the world. These four countries account for 580,000 of the 720,000 new millionaires in the past year.
- Almost 70% of all millionaires have a net worth of between $1 million and $5 million. 19.8% have between $5 million and $20 million, while 11.2% have a net worth over $20 million.
- There are 145,200 Ultra high net worth individuals who have a net worth over $30 million (0.9% of all millionaires). These individuals hold 34.1% of the all HNWI wealth.
- More than half the world’s millionaires (50.8%) are under 40. The other half are over 40, but only 14% are over 60 years old.
- There are more male millionaires than female millionaires, but the gap is closer than one would thing. Around 57% of millionaires are men, with 43% being women.
- Looking ahead to 2025, millionaires see the biggest growth markets in financial services, technology (Fintech in particular) and in healthcare. Accommodation and food services are seen as the weakest growth drivers.
- Millionaire growth is going to be most prominent in China, followed by the USA and India. South Africa is among the top 20 future growth drivers, but only just, at 20th.
Source: Business Tech