Revealed: Top 10 countries with the most number of millionaires

The United Arab Emirates and Saudi Arabia rank among the top 15 countries worldwide for having the most number of millionaires, a recent study by Credit Suisse has found.

With 59,000 millionaires as of 2015, the UAE ranks 14th worldwide followed immediately by Saudi Arabia, which has 50,000 millionaires.

Overall, the Middle East and North Africa countries have an estimated 330,000 millionaires (as of 2015), up by more than 240 per cent since 2000, the report found. The number of regional millionaires is projected to rise by another 52 per cent to 500,000 by 2020, it added.

Globally, the number of dollar millionaires will likely rise by 46.2 per cent over the next five years, increasing to a record 49.3 million adults from 33.7 million in 2015.

Among the regions, China is likely to see the largest percentage increase in the number of millionaires by 2020 (74 per cent), followed by Africa (73 per cent).

Overall, emerging markets (low to middle-income economies) account for 6.5 per cent of millionaires and will see their share rise to 7.4 per cent by the end of the decade, the report added.

TOP 10 COUNTRIES WITH THE MOST NUMBER OF MILLIONAIRES

1. United States

Number of millionaires (2015): 15.65 million

Number of millionaires (2020): 20.61 million

Change: 32%

2. United Kingdom

Number of millionaires (2015): 2.36 million

Number of millionaires (2020): 3.82 million

Change: 62%

3. Japan

Number of millionaires (2015): 2.12 million

Number of millionaires (2020): 3.59 million

Change: 69%

4. France

Number of millionaires (2015): 1.79 million

Number of millionaires (2020): 2.86 million

Change: 60%

5. Germany

Number of millionaires (2015): 1.52 million

Number of millionaires (2020): 2.36 million

Change: 55%

6. Taiwan

Number of millionaires (2015): 414,000

Number of millionaires (2020): 744,000

Change: 80%

7. Brazil

Number of millionaires (2015): 168,000

Number of millionaires (2020): 229,000

Change: 37%

8. Singapore

Number of millionaires (2015): 142,000

Number of millionaires (2020): 212,000

Change: 50%

9. Mexico

Number of millionaires (2015): 122,000

Number of millionaires (2020): 206,000

Change: 68%

10. China – Hong Kong SAR

Number of millionaires (2015): 107,000

Number of millionaires (2020): 165,000

Change: 54%