There are more and more ultra-millionaires in Portugal. And in the coming years the numbers should increase – Executive Digest

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The global population of ultra-millionaires recorded a significant increase in 2023, reversing the downward trend observed in the previous year.

According to the annual report The Wealth Report, released by Knight Frank, ultra-millionaires, who are defined as individuals with a net worth of more than 30 million dollars (27 million euros), reached a total of 626 thousand worldwide. by the end of 2023, marking a 4.2% increase compared to 2022 figures.

In Portugal, this growth was also notable. The report reveals that the number of ultra-millionaires increased from 777 to 800 in the last year, representing a 3% growth. This number is predicted to reach 1,000 by 2028, representing a further 25% increase.

Globally, North America leads growth with a 7.2% increase in new ultra-millionaires, followed by the Middle East and Africa. Turkey leads the country rankings, with a 9.7% increase in the number of ultra-millionaires, followed by the USA, India, South Korea and Switzerland.

The growth in wealth creation has been driven by global economic growth and improving profitability in key investment sectors, including the stock market and real estate. Sectors such as the residential market surprised positively, with an investment profitability of 3.1%.

Over the next five years, the report predicts a further 28.1% increase in the global population of ultra-millionaires, with Asia leading this growth, followed by the Middle East, Australasia and North America.