Number of Millionaires is Increasing Worldwide — Cryptocurrencies are the Topic

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The number of millionaires worldwide is growing, and together they have more than $ 70 trillion for the first time. Revenues in Asia and North America benefited the well-performing global economy and the expanding financial markets in the past year. But in Switzerland, too, there are significantly more private persons who now own a fortune of one million dollars or more.

In 2017, the total assets of dollar millionaires worldwide grew by almost 11 percent. This is the sixth growth in a row and the second highest growth after 2011, writes the consulting firm Capgemini in the “World Wealth Report” published on Tuesday.

The work of asset managers has also contributed to the growth. The millionaires’ assets they managed increased by 27 percent in 2017. The shares are with nearly 31 percent the largest asset class, followed by cash and similar investments (27%) and real estate (17%), according to the release.

Growing interest in cryptocurrencies

Increasingly, crypto currencies are moving into focus, as this form of investment has so far barely played a role in the portfolios of wealthy individuals. But a certain caution remains: According to poll, 29 percent of millionaires have shown a great interest in cryptocurrencies. 27 percent said they were “slightly interested” in this system.

Globally, Capgemini has 18.1 million retail investors with over $ 1 million in available assets. This is 1.6 million more than in 2016. Nearly three-quarters of the increase is attributable to Asia-Pacific and North America, where there are 6.2 million and 5.7 million millionaires, respectively.

Switzerland with 7 percent more millionaires

But also in Europe, the good development of the past year has continued, it continues. On the “old continent”, the number of millionaires increased by around 300,000 to 4.8 million. In Switzerland, 389,200 people can call themselves millionaires. This represents an increase of 7 percent over the previous year.

The number of wealthy individuals and their wealth should continue to grow strongly. The experts at Capgemini assume that the assets of today’s and the new millionaires should grow to over 100 trillion by 2025.

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