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Millionaires in Switzerland still on the rise

One million dollars in Switzerland won’t buy you a mansion, but it’s not bad.

Switzerland is home to the fourth-largest number of dollar millionaire households, according to a report by the Boston Consultancy Group (BCG). Worldwide, the number of such millionaires continues to rise.

There are now some 500,000 millionaire households in Switzerland, BCG said, putting the Swiss in fourth place behind the US (around 15 million), China (1.3 million), and Japan (1.1 million).

This marks a steady growth of riches in Switzerland: in 2016 the number of millionaire households was 358,500, according to another consultancy firm – seventh worldwide.

Other reports have consistently shown that the numbers of “multi-millionaires” (with wealth of $5 million or more) are also rising, while Switzerland continues to enjoy the highest mean wealth of anywhere in the world.

+ Who are the richest people in Switzerland?

Globally, the BCG report released on Thursday said that the past year had seen a 2% rise in the number of dollar millionaires; there are now 22.1 million of them. It also found that, overall, just 0.02% of the world’s population hold half of global wealth.

However, it also predicted shifts in the coming decade, notably in Africa and South America, where the number of millionaires is set to sharply rise – by 10% and 9% respectively.

Full story here
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