According to a recently published report, this country is home to a greater number of millionaire adults in Latin America

According to a report by the Credit Suisse Research Institute, despite the low rates of economic growth in the region, the number of millionaires in Chile is increasing. The report on world wealth, made once a year, explains that some 67,000 people have an equity equivalent to or greater than US $ 1 million.

Leer en español: Chile: el país con más ricos en Latinoamérica

This increase would represent an increase of 17.5%, compared to the previous year, which estimated that at least 57 thousand people had reached such wealth.

In Latin America

In the region, the report indicates that Chile has a Gross Domestic Product (GDP) per adult similar to that of Argentina, which is greater than Brazil's by a 46% difference. However, it is clear that Chile's average wealth is three times that of Argentina and Brazil, a high amount compared to other emerging markets.

In this way, the adult who manages to average his patrimony in $ 62 thousand dollars, would be reaching the global average that is in US $ 63 thousand. In the region, the figure is much smaller. A rich Latin American has an average of US $ 18 thousand.

However, Chile's economy minister, José Ramón Valente, is skeptical of the study that reveals that his country leads the region in number of millionaires, calling it "a bit odious". Although the minister is proud of the performance of the country, noting that it has the highest rates of social mobility in all OECD countries, it is hard for him to believe that the report reflects reality in Chile.

"It's a bit odious when you only talk about the millionaires", said Minister Valente. "Without a doubt, there is still a significant number of people in Chile who do not have enough and do not have the income levels to live a decent life.

In Mexico, the number of rich people is falling because of the value of their local currency against world markets, while globally the trend is upward. In total, the report reveals that Mexico may have lost up to 6,000 of its millionaires. This characteristic is a sign of the economic progress of the countries, the report points out.

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"The number of millionaires in a country and its trend over time is seen as a sign of the country's economic health and its ability to generate opportunities for wealth creation", the report said.

However, something alarming is the level of economic inequality in the region. Only in Chile, it is 77%.

A global perspective

In short, the United States is the country with the most millionaires, holding the first position and 5.5% of the growth in family wealth per adult. What would represent that each family is increasing its wealth on average to a ceiling of US $ 391,690 per year; adding that, US $ 6.3 trillion was the contribution in the increase of the world wealth, for which it is positioned in the first place. China is not far behind, with US $ 52 billion.

In general, there is an estimated US $ 317 trillion of global wealth; there are 42 million millionaires in the world. On average, the patrimony per adult reached US $ 63100 during 2018, and in 2023 the global wealth is projected to be US $ 322 trillion.

With about 200 nations studied, this is a list of the richest countries in the world:

1. United States

2. China

3. Germany

4. France

5. United Kingdom

6. Italy

7. Japan

LatinAmerican Post | Jorge Becerra
Translated from “Chile: el país con más ricos en Latinoamérica”

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