{"id":180043,"date":"2017-06-19T19:00:10","date_gmt":"2017-06-19T17:00:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=180043"},"modified":"2017-06-19T17:34:38","modified_gmt":"2017-06-19T15:34:38","slug":"how-many-millionaire-households-there-are-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/180043\/how-many-millionaire-households-there-are-in-south-africa\/","title":{"rendered":"How many millionaire households there are in South Africa"},"content":{"rendered":"

A new report from the Boston Consulting Group finds that globally, almost 18 million households control more than $1 million in wealth.<\/p>\n

There were 17.9 million households with more than $1 million in private wealth in 2016, up 8% from the total of 16.6 millionaires in 2015.<\/p>\n

According to BCG, the world’s millionaires, who represent the top 1% of the population, own as much as 45% of the $167 trillion in total personal wealth in the world, up from 44% in 2015.<\/p>\n

The US is home to the most millionaire households – seven million – far more than second ranked China, with 2.1 million.<\/p>\n

BCG told BusinessTech that its data showed that South Africa had 22,700 millionaire households in 2016, placing it 53rd out of 98 countries in its report.<\/p>\n

Read: This is how many South Africans earn more than R1 million a year<\/a><\/strong><\/p>\n

In March, commercial and\u00a0residential property<\/span> group, Knight Frank published its Wealth Report \u00a0for 2017, showing how many dollar millionaires live in South Africa.<\/p>\n

It found that South Africa had 40,400 millionaires in 2016<\/strong>, up from 38,500 in 2015, while that number is expected to grow to 52,500 over the next decade \u2013 to 2026.<\/p>\n

Top 15 countries for millionaire households
\n<\/strong><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/th>\nCountry<\/th>\nMillionaires<\/th>\n<\/tr>\n
1<\/td>\nUSA<\/td>\n7.085 million<\/td>\n<\/tr>\n
2<\/td>\nChina<\/td>\n\u00a02.124 million<\/td>\n<\/tr>\n
3<\/td>\nJapan<\/td>\n\u00a01.244 million<\/td>\n<\/tr>\n
4<\/td>\nUnited Kingdom<\/td>\n\u00a0821 000<\/td>\n<\/tr>\n
5<\/td>\nCanada<\/td>\n\u00a0485 000<\/td>\n<\/tr>\n
6<\/td>\nGermany<\/td>\n\u00a0473 000<\/td>\n<\/tr>\n
7<\/td>\nSwitzerland<\/td>\n\u00a0466 000<\/td>\n<\/tr>\n
8<\/td>\nFrance<\/td>\n\u00a0439 000<\/td>\n<\/tr>\n
9<\/td>\nTaiwan<\/td>\n\u00a0370 000<\/td>\n<\/tr>\n
10<\/td>\nItaly<\/td>\n\u00a0307 000<\/td>\n<\/tr>\n
11<\/td>\nAaustralia<\/td>\n\u00a0263 000<\/td>\n<\/tr>\n
12<\/td>\nBelgium<\/td>\n\u00a0240 000<\/td>\n<\/tr>\n
13<\/td>\nSaudi Arabia<\/td>\n\u00a0236 000<\/td>\n<\/tr>\n
14<\/td>\nHong Kong<\/td>\n\u00a0228 000<\/td>\n<\/tr>\n
15<\/td>\nNetherlands<\/td>\n\u00a0206 000<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Looking ahead, BCG said that by the end of 2021, it expects the growth rate for global private wealth to be 6% higher than in 2016.<\/p>\n

\"\"<\/a><\/p>\n

The report showed that by 2021, households worth $100 million will see their wealth grow by as much as 8.4 %, while those worth more than a million will see a compound annual growth rate (CAGR) of 5.4%.<\/p>\n

\"\"<\/a><\/p>\n

The BCG study uses data largely sourced from banks, national statistics offices and financial regulatory bodies.<\/span><\/p>\n

\n

Read: This is how many dollar millionaires live in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report from the Boston Consulting Group finds that globally, almost 18 million households control more than $1 million in wealth.<\/p>\n","protected":false},"author":10,"featured_media":180045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[2067,26],"class_list":["post-180043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-boston-consulting-group","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/180043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=180043"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/180043\/revisions"}],"predecessor-version":[{"id":180101,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/180043\/revisions\/180101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/180045"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=180043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=180043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=180043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}