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Countries set for extremely wealthy individuals boom

Countries set for extremely wealthy individuals boom

It seems that 2019 has not been a year full of economic turmoil over all aspects, as it also turns out that last year was also happy for some of the world's most valuable individuals, as the number of people whose wealth exceeded $30 million increased from the previous year.

According to the 2020 Knight Frank report, the world's high-value population or people with a wealth of $30 million or more, rose 6.4 percent from 2018 despite fluctuations in global economies in 2019.

India came in first place with 10,354 ultra-high net worth individual (UHNWI), up from 73 percent over the next five years, with nearly 6,000 UHNWI in the country, despite geopolitical tensions as well as the slowdown in the Indian economy.


Egypt ranked second despite the small number of UHNWI, but is expected to increase by 66 percent over the next five years, bringing the total number of people within the land of the Pyramids to 1,269 from just 764.

China came in fourth place despite the number of economic events witnessed in the country during the past period, most notably the trade war with the United States and the ongoing spread of the coronavirus, where the number of wealthy people is expected to reach 97,082 by 2024.

In the last place, New Zealand came in with a 37 percent increase, bringing the total number of people inside the country to 2,485.

People who dream of entering the $30 million club are optimistic due to this report, as between 2014 and 2019, the number of millionaires increased to nearly 50 million from 39.4 million at the beginning of 2014, with a 27 percent increase and these percentage is expected to reach 28 percent by 2024.

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