Overview of Global Wealth Distribution
According to the UBS wealth report, Mexico ranks second in Latin America for millionaires, just behind Brazil. Here’s a breakdown of the wealth distribution across various regions:
- Brazil: 433,000 millionaires
- Mexico: 399,000 millionaires
- United States: 23,831,000 millionaires (most in the world)
- China: 6,327,000 millionaires
- France: 2,897,000 millionaires
- Southeast Asia: Taiwan – 760,000 millionaires; Hong Kong – 647,000 millionaires
- Middle East: Saudi Arabia – 340,000 millionaires; United Arab Emirates – 240,000 millionaires; Israel – 186,000 millionaires
Wealth Growth Trends
The global wealth increased by 4.6% in the past year, following a 4.2% growth in 2023. The growth was uneven, with North America seeing the most significant increase, contributing over 11% to the total growth. The stability of the US dollar and dynamic financial markets were key factors in this growth, according to UBS.
However, Asia-Pacific (APAC) and Europa, Oriente Medio y África (EMEA) regions lagged behind with growth rates below 3% and 0.5%, respectively.
Regional Performance
In Latin America, Brazil leads with 433,000 millionaires, while Mexico follows closely with 399,000 individuals. Despite this, both countries are far behind the United States, which has the most millionaires globally.
Japan experienced a decrease of 33,000 millionaires last year (1.2% decline), while some Eastern European countries like Estonia and the Czech Republic saw approximately 1.5% declines.
Wealth Transfer to Women in the Next 25 Years
UBS predicts a significant wealth transfer over the next 25 years, with approximately $83 trillion moving between generations. Notably, around $9 trillion of this amount will transfer between spouses, primarily benefiting women.
Key Questions and Answers
- Which countries have the most millionaires in Latin America? Mexico has 399,000 millionaires, making it the second-highest in the region after Brazil with 433,000 millionaires.
- What factors contributed to the global wealth growth? The stability of the US dollar and dynamic financial markets were key factors in global wealth growth.
- How will wealth be distributed among generations in the next 25 years? Approximately $9 trillion of wealth will transfer between spouses, primarily benefiting women.
