The great fortunes, that is to say, the persons who have a personal title of a patrimony to invest equal or superior to a million dollars, have increased in our country by 76.47% since 2008, going from 127,100 in that year to 224,300 in 2018, according to the "World Wealth Report", published today by Capgemini.
From 2017 to 2018, however, the number of millionaires in Spain has remained virtually unchanged (224,200 against 224,300), which means an increase below 0.1%.
In this way, Spain occupies the fourteenth position in the world ranking in terms of millionaire population, behind countries such as India (256,000) and South Korea (235,000) and ahead of others such as Russia (200,000) and Saudi Arabia (191,000). In the European ranking, our country is in seventh place, ranking behind Germany, France, United Kingdom, Switzerland, Italy and the Netherlands and surpassing Norway and Sweden.
The wealth accumulated by the great patrimonies in Spain it has also experienced a notable increase since 2008, when it was 368.5 billion dollars, until 2018, when it rose to 637.3 billion. As it happened with the number of millionaires, the patrimony of these great fortunes, at a national level, closed 2018 with a figure very similar to that of 2017 (653.2 billion dollars).
The study reveals that Cash has been the most used asset as an investment in 2018 in Spain, since it represents 27.1% of the financial wealth of the great fortunes. On the other hand, stocks occupied the second position, with 24.3%. Real estate investments reached 18.2%, while bonds accounted for 16.7%. Alternative investments are those that present a lower percentage, with 13.7% of the total.
Less millionaires, less wealth
At a global level, the report prepared by Capgemini also highlights that, for the first time in seven years, The heritage of the great fortunes has fallen during the past year. Specifically, 3% going from 701,681,000,000 million dollars in 2017 to 681,015,000,000 million in 2018. This represents a setback of 20,666,000,000 million dollars, especially in the area of Pacific Asia, that concentrates half of this fall -especially because of China- and that has also reduced its population of millionaires by 2%.
Not only in the Asian continent has the heritage of the great fortunes declined. For example, in Latin America it has fallen by 4%, in Europe by 3% and in North America by 1%. In contrast, the opposite phenomenon has occurred in the Middle East: wealth has grown by 4% and the number of millionaires has increased by 6%, which the authors of the report have attributed to economic growth and the evolution of financial markets.
At the same time, the number of number of millionaires, something that had not happened in a decade: in 2017 there were 18,083,100 millionaires by 18,023,200 estimated at the end of last year. As last year, the largest number of millionaires is concentrated in countries like United States (5,321,700), Japan (3,150,500), Germany (1,350,000) and China (1,189,000). These four great powers group 61% of the world population of great fortunes that slightly exceeds 18 million people. Spain, as mentioned above, is in the fourteenth place with 224,300 millionaires.
Regarding the collective of ultrarricos -Those who have fortunes over 30 million dollars to invest-, their number has been reduced by 4% as well as their wealth, which has also fallen by 6%. These losses represent the immense majority of the fall of the patrimony registered by the great fortunes in 2018 in relation to the previous year. While the remaining loss of wealth is distributed mostly among those considered «Mid-level millionaires» (with fortunes of between 5 and 30 million dollars) that saw their heritage decline by 2.6% for 0.5% of the millionaires of smaller entity -with fortunes between 1 and 5 million dollars- and that represent 90% of this group.
But, to what do they destine this fortune? As with the Spanish millionaires, globally, Cash remains the most important destination for that heritage (27.9%) followed by fixed income (shares), with 25.7%; the bonds, with 17.6%; real estate assets (15.8%) and alternative investments, especially those of an ecological nature.
(tagsToTranslate) population (t) millionaires (t) study (t) capgemini