Friday , July 12 2024

Vietnam grows fastest globally in number of millionaires

The number of millionaires in Vietnam virtually doubled between 2013 and 2023, the fastest rate globally, to 19,400, a new report says.

The country also has 58 centi-millionaires (those with US$100 million or more in assets) and six billionaires, according to British investment migration consultancy Henley & Partners.

In terms of growth rate, Vietnam was followed by China (92%), Mauritius (87%) and India (85%).

The U.S. ranked top with 5.49 million millionaires.

In Southeast Asia, Singapore tops the list with 244,800 millionaires.

New World Wealth, a South African global wealth intelligence firm, forecasts Vietnam will see 125% growth in wealth in the next 10 years, again the fastest rate in the world.

Wealth is calculated by GDP per capita and the number of millionaires, it added.

In the last 10 years Vietnam’s GDP per capita has grown 2.2 times to $4,284.

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