2023-08-16 04:04:00
France, a country of millionaires
France and its millionaires
France is distinguished by an impressive number of millionaires. In 2022, France had 2,821,000 adults with a fortune of more than 1 million dollars, or 917,000 euros. This performance places France in third position in the world, just behind the economic giants of the United States and China.
Less “very rich”
If France shines by its number of millionaires, it is on the other hand in 8th position worldwide as regards the “very rich”, that is to say people possessing more than 50 million dollars. They are 3,890 in this case in France, against 124,000 in the United States or 33,000 in China.
Wealth: the United States world champions
The United States still in the lead
With 22.7 million millionaires, the United States largely dominates the world ranking, accounting for 38.2% of the total. China follows with just over 6 million millionaires, or 10.5% of the world total. It should however be noted that with more than 330 million inhabitants for the first and more than 1.4 billion for the second, the population of these two countries is without common measure with that of France. It therefore seems normal that the number of millionaires is higher.
Surprises in the ranking of millionaires
Japan, which had held third place since 2014, was overtaken by France in 2022, according to UBS data. Other countries, such as Germany and the United Kingdom, follow closely behind France with respectively 4.4% and 4.3% of world millionaires.
The Global Wealth Report, published by UBS (Union of Swiss Banks), is a benchmark for analyzing global wealth. For the first time, UBS is publishing this report, historically drawn up by Credit Suisse.
A contrasting evolution of the number of households weighing more than 1 million dollars
Stability in France
Unlike other developed countries, France did not experience a drop in the number of its millionaires in 2022. This stability contrasts with the global trend, where the total number of millionaires fell from 62.9 million to 59.4 million between 2021 and 2022.
Countries on the rise
Some countries have seen a sharp increase in the number of their millionaires in 2022, such as Brazil, Iran or Norway. These developments are not always explained in detail in the reports, but they reflect the economic dynamics at work on a global scale.
The fortunes of chickadees are in decline around the world
The rapport UBS however, reveals bad news for millionaires and billionaires: in 2022, their wealth has declined. Household wealth stood at 454.4 trillion dollars, down 2.4%. This is the first drop since… 2008 and the subprime crisis. But this decline is linked, according to UBS, to inflation and rising interest rates. Without it, wealth would have climbed 3.4% between 2021 and 2022.
The report further underlines that the decline is only temporary: by 2027, according to UBS, global wealth is expected to rise by 38%, to 629,000 billion the dollars.
Top 5 countries with the most millionaires in 2022
CountryNumber of millionairesGlobal share (%)United States22.7 million38.2China6 million10.5France2.821 million4.8Germany2.614 million4.4United Kingdom2.554 million4.3
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