Population of rich people is increasing rapidly in these countries, not in US, China, Russia, India, France, Saudi Arabia, UAE, it is...

When we think about millionaires, countries like the United States, China, or India usually come to mind. But a new report has revealed a surprising trend—these global giants are no longer leading the race in creating new millionaires. According to the UBS Global Wealth Report 2024, smaller and emerging economies are now seeing the fastest growth in the number of millionaires—people with wealth of over $1 million. The report shows that wealth is rapidly shifting from traditional financial centers to new regions.

The report ranks Taiwan at the top. The country now has 760,000 millionaires, and the average adult wealth is over $312,000. Taiwan’s growth has been fueled by a strong technology sector and a stable economy.

Second on the list is Turkey, which added 7,000 millionaires in just one year—an increase of 8.4%. The country now has 68,000 millionaires, and this number is expected to reach 87,000 by 2028. Experts say this jump is due to recent economic reforms and investment opportunities.

The list also includes several Asian nations like Kazakhstan, Indonesia, South Korea, Israel, Mexico, and Thailand. In Europe, Sweden made it to the top 10. These countries are seeing rapid financial development, favorable government policies, and rising investor confidence.

This shift shows that global wealth is no longer limited to countries with the biggest economies. Instead, smart investments, local reforms, and growing industries are helping new nations rise quickly.