November 30, 2020

The number of millionaires in Spain is close to one million – La Provincia

The number of millionaires in Spain quintupled between 2010 and 2019, reaching a total of 979,000 people, as can be seen from 'World wealth report 2019', prepared by the Credit Suisse Research Institute and published this Monday.

The Swiss bank has specified that to account for wealth calculates the market value of the financial and non-financial assets (real estate and solar) of each person, discounting their debts.

Thus, while in 2010 Spain had 172,000 millionaires, compared to the 979,000 that exist at the time of preparing this year's report. Hechange in income distribution and wealthIt has contributed 6.9% to the increase of millionaires, while the increase in population has contributed 9.9%. Thus, 83.2% of new millionaires are due to the growth of average wealth.

Of that figure of Spanish millionaires, a total of 899,008 have a wealth of between one and five million dollars (between 895,000 euros and 4.47 million euros); while 52,585 has an equity of between five and 10 million dollars (4.47 and 8.95 million euros); 24,818 have between 10 and 50 million dollars (between 8.95 and 44.77 million euros); 1,452 have assets valued between 50 and 100 million dollars (44.77 and 89.5 million euros); 685 have between 100 and 500 million dollars (89.5 and 447.7 million euros); and 61 people are located in the most exclusive section, with a wealth valued at more than 500 million dollars. These data place Spain in the 16th position in the ranking of countries with the highest number of 'ultra-rich'.

Credit Suisse also estimates that thenumber of Spanish millionaires will grow 42% in the next five years, to stand at 1,394,000 in 2024.

Worldwide, the number of millionaires in 2010 was 13.83 million, while nine years later that figure has multiplied by three, reaching 46.8 million.

Of those nearly 47 million rich, 41.1 million have a wealth of between one and five million dollars; 3.7 million have a wealth between five and 10 million dollars; 1.8 million have assets valued between 10 and 50 million dollars; and 168,030 is at the highest level of the rich, with assets valued at more than 50 million dollars.

At the aggregate level, the report highlights that, with respect to last year, world wealth has increased by 2.6%, to 360 billion dollars (322.3 billion euros), driven byUnited States and Chinadespite commercial tensions.

The average wealth per adult stood at$ 70,850, which represents a new historical record by advancing 1.2% with respect to the data of the 2018 report.

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