Countries Highest Millionaire Growth
A 2025 study ranks countries with the fastest millionaire growth, revealing global wealth trends. Taiwan leads the countries with the fastest millionaire growth, with a projected 400K increase in millionaires over the next three years. East Asia is an emerging hotspot for millionaires, with three countries expected to see at least a 25% rise in their millionaire population. Australia has the highest share of millionaires, with 7% of its population possessing this level of wealth. Over the past decade, the number of ultra-high-net-worth individuals ($30M or more) has grown faster in Asia than in Europe, reflecting shifting global wealth dynamics. A new study by Gambulls, an online gaming company, analyzed the countries with the fastest-growing millionaire populations. The study began with 2025 as the baseline year and projected growth through 2028. It examined both the total population and the number of millionaires in each country, standardizing the figures per 1,000 people to ensure fair comparisons. Key factors included the estimated 3-year millionaire % change, used as the primary ranking factor, and millionaires as a % of population, which provides context on the overall concentration of wealth within each country. Here is the summary of the findings:
You can find the full research findings by following this link. Taiwan is projected to have the fastest millionaire growth in the next three years, seeing a 53% increase in the number of wealthy individuals. For every 1K residents, 50 are expected to be millionaires in 2028, compared to the 32 now. This growth means 3.2% of Taiwan’s population will be millionaires by 2028, the fastest increase on the list. Sweden comes in second, seeing a 40% rise in its millionaire population. Sweden currently has a higher rate of millionaires than Taiwan, at 46. It will increase by 19 more, and will compose 4.6% of the population, over ten percent more than in Taiwan. Japan ranks third among the countries with the fastest millionaire growth. Japan starts off with 22 millionaires per 1K people, and within three years it will increase by 34%, bringing the number to 30. There will be 3.6M people with a net worth of over USD 1M, making up 2.2% of the population. South Korea is fourth, seeing a 25.7% increase in its millionaires. South Korea is the third and last East Asian country in the ranking, following a similar trend to its neighboring countries, with 22 millionaires for every 1K people in 2025. By 2028, this figure will increase by seven, and millionaires will represent 2.5% of the population, more than in Japan.
Germany rounds out the top five countries with the fastest millionaire growth. Germany has one of the strongest foundations, with a rate of 32 high-net-worth individuals, ten more than in Japan. By 2028, there will be an increase of 20%, with Germany being home to 38 millionaires. The millionaires will account for 3.2% of the population. Australia ranks sixth, rising 18.2%. Australia has the highest relative number of millionaires, starting with 70 and growing to 82 in three years, 17 more than any other country. This makes Australia home to the highest share of millionaires, as they represent 7% of the population, over 2 percentage points more than any other ranking. Belgium is seventh, seeing a 17.5% increase. Like Australia and Germany, Belgium has a good starting point, as out of 1K residents, 47 have a net worth of 1M, the second-highest number in 2025. By 2028, eight more will become wealthy individuals and represent nearly 5% of the country. Saudi Arabia comes in eighth, seeing a 14.3% increase. Saudi Arabia starts with ten millionaires for every 1K resident, which will increase to 12 in 2028. Millionaires will make up 1.0% of the population by 2028. France ranks ninth, increasing from 43 to 49 millionaires. France has nearly 40 more people with a net worth of USD 1M per 1K people than Saudi Arabia. After a 13.7% rise in the number of millionaires, the wealthy French will account for 4.3% of the population. India finishes the list of the top countries with the highest projected millionaire growth, with a 12.4% increase. Millionaires make up about 0.1% of the total population. A spokesperson from Gambulls commented, "The rapid expansion of millionaire communities around the world is reshaping how cities and countries think about innovation, lifestyle, and economic opportunity. Where wealth concentrates often reflects broader social and cultural trends, from entrepreneurship hubs to emerging global markets."
