Surge in Millionaire Population in BRICS Countries
A recent report by Henley & Partners, in collaboration with New World Wealth, highlights an expected significant increase in the number of millionaires within the BRICS countries over the next decade.
This group of nations, which recently expanded to include new members like Egypt, Ethiopia, Iran, the United Arab Emirates, and soon, Saudi Arabia, currently holds a combined investable wealth of $45 trillion.
Projected Wealth Growth
The study forecasts an 85% rise in the number of individuals with investable assets exceeding a million dollars within the BRICS nations, marking the highest wealth growth rate globally compared to any other bloc or region.
This contrasts with the Group of Seven (G7) advanced economies, where the number of millionaires is expected to grow by 45% over the same period, despite the G7 holding $110 trillion in investable wealth as of December 2023.
Leading Nations in Wealth Expansion
India is predicted to lead the wealth expansion within the BRICS bloc, with an estimated 110% increase in wealth per capita by 2033. Following closely are Saudi Arabia and the UAE, with expected growth rates of over 105% and 95%, respectively.
China and Ethiopia are also projected to see significant increases in wealth, with growth rates of 85% and 75%.
Also Read: Stocks Likely to Withstand Market Downturn if Interest Rate Reductions Postpone, Economist Suggests
Past Decade Wealth Growth
Reflecting on the past decade, China has led the BRICS countries in private wealth expansion with a 92% increase, while India experienced an 85% growth in wealth.
The UAE also saw substantial wealth growth, with a 77% increase. However, not all BRICS members experienced growth; South Africa and Iran have witnessed declines in their millionaire populations since 2013.
Implications for Global Wealth Distribution
The expected surge in the millionaire population within the BRICS countries signifies a shift in global wealth distribution, challenging the traditional dominance of G7 countries and other international institutions.
This development underscores the BRICS bloc’s rising influence and potential as a formidable rival on the global stage, particularly in terms of economic power and wealth generation.
Read Next: GM Commits $19 Billion for EV Battery Materials from LG Chem Until 2035
DISCLAIMER
You should read and understand this disclaimer in its entirety before joining or viewing the website or email/blog list of SmallCapStocks.com (the “Publisher”). The information (collectively the “Advertisement”) disseminated by email, text or other method by the Publisher including this publication is a paid commercial advertisement and should not be relied upon for making an investment decision or any other purpose. The Publisher is engaged in the business of marketing and advertising the securities of publicly traded companies in exchange for compensation. The track record, gains, upside, and/or losses mentioned in the Advertisement, if any, should not be considered as true or accurate or be the basis for an investment. The Publisher does not verify the accuracy or completeness of any information included in the Advertisement. While the Publisher does not charge for the SMS service, standard carrier message and data rates may apply. To unsubscribe from receiving promotional text messages to your phone sent via an autodialer, using your phone reply to the sender’s phone number with the word STOP or HELP for help.
The Advertisement is not a solicitation or recommendation to buy securities of the advertised company. An offer to buy or sell securities can be made only by a disclosure document that complies with applicable securities laws and only in the states or other jurisdictions in which the security is eligible for sale. The Advertisement is not a disclosure document. The Advertisement is only a favorable snapshot of unverified information about the advertised company. An investor considering purchasing the securities, should always do so only with the assistance of his legal, tax and investment advisors. Investors should review with his or her investment advisor, tax advisor or attorney, if and to the extent available, any information concerning a potential investment at the web sites of the U.S. Securities and Exchange Commission (the "SEC") at www.sec.gov; the Financial Industry Regulatory Authority (the "FINRA") at www.FINRA.org, and relevant State Securities Administrator website and the OTC Markets website at www.otcmarkets.com. The Publisher cautions investors to read the SEC advisory to investors concerning Internet Stock Fraud at www.sec.gov/consumer/cyberfr.htm, as well as related information published by the FINRA on how to invest carefully. Investors are responsible for verifying all information in the Advertisement. As an advertiser, we do not verify any information we publish. The Advertisement should not be considered true or complete.
The Publisher does not offer investment advice or analysis, and the Publisher further urges you to consult your own independent tax, business, financial and investment advisors concerning any investment you make in securities particularly those quoted on the OTC Markets. Investing in securities is highly speculative and carries an extremely high degree of risk. You could lose your entire investment if you invest in any company mentioned in the Advertisement. You acknowledge that we are not an investment advisory service, a broker-dealer or an investment adviser and we are not qualified to act as such. You acknowledge that you will consult with your own independent, tax, financial and/or legal advisers regarding any decisions as to any company mentioned here. We have not determined if the Advertisement is accurate, correct or truthful. The Advertisement is compiled from publicly available information, which include, but are not limited to, no cost online research, magazines, newspapers, reports filed with the SEC or information furnished by way of press releases. Because all information relied upon by us in preparing an advertisement about an issuer comes from a public source, it is not reliable, and you should not assume it is accurate or complete.
By your subscription to our profiles, the viewing of this profile and/or use of our website, you have agreed and acknowledged the terms of our full disclaimer and privacy policy which can be viewed at the following link: www.SmallCapStocks.com/Disclaimer and www.SmallCapStocks.com/Privacy-Policy
By accepting the Advertisement, you agree and acknowledge that any hyperlinks to the website of (1) a client company, (2) the party issuing or preparing the information for the company, or (3) other information contained in the Advertisement is provided only for your reference and convenience. The advertiser is not responsible for the accuracy or reliability of these external sites, nor is it responsible for the content, opinions, products or other materials on external sites or information sources. If you use, act upon or make decisions in reliance on information contained in any disseminated report/release or any hyperlink, you do so at your own risk and agree to hold us, our officers, directors, shareholders, affiliates and agents harmless. You acknowledge that you are not relying on the Publisher, and we are not liable for, any actions taken by you based on any information contained in any disseminated email or hyperlink.
I’m Elizabeth Monroe, a writer who brings you stories from around the world. I’m passionate about sharing important global news and amplifying the voices of those often left unheard. Through my writing, I aim to make the world feel a bit closer and more accessible.