Number of Dollar Millionaires in Austria in Decline

The club of dollar millionaires in Austria became smaller last year, while globally it reached a record size. This is according to the "World Wealth Report" published on Wednesday by the consulting firm Capgemini. An estimated 23.4 million people worldwide, an increase of 2.6 percent from 2023, had investable assets of at least one million dollars in 2024. In Austria, there were 162,300 people, down from 170,300 the year before.

Assets of Austrian dollar millionaires shrunk

The assets of Austrian dollar millionaires were estimated by the company at a good 461 billion dollars (currently 403.71 billion euros). This was less compared to the previous year, when they still had 471.4 billion dollars in Austria. In 2022, 169,600 Austrian millionaires had reached 469.1 billion dollars. The difference between the global and Austrian development is particularly attributed to the difficult economic situation in Europe, from which Austria is not exempt, according to Capgemini in response to an APA inquiry.

The consulting firm considers in its annually compiled "World Wealth Report" since 1997 stocks, fixed-income securities, alternative investments such as private equity, cash, and real estate, provided they are not owner-occupied. Art collections and consumer goods such as cars and jewelry are not included.

As a reason for the global record value (since the first evaluation in 1997, note), Capgemini cited in particular rising prices on many stock markets. The wealth of the rich also climbed to a record high: 90.5 trillion dollars (79.3 trillion euros) represented an increase of 4.2 percent from the previous year. The lion's share of the wealth increase once again came from the USA.

USA, Japan, and Germany at the forefront

The United States leads the ranking with 7.993 (previous year: 7.431) million dollar millionaires by a wide margin. Japan remains in second place with 3.99 (3.77) million wealthy individuals, followed by Germany in third place with around 1.6 million dollar millionaires. These three countries plus China account for almost two-thirds (64.5 percent) of the world's dollar millionaires. According to the information, the evaluation covers 71 countries, which account for more than 98 percent of global gross national income and 99 percent of worldwide stock market capitalization.

(APA/Red)

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