More Swedes are millionaires

Swedes are getting richer: 1,700 people in Sweden became dollar millionaires last year.

An international survey by CapGemini and Merrill Lynch showed that there were 44,400 people living in Sweden in 2005 whose assets – excluding their homes – were worth more than a million US dollars.

The increase in the number of dollar millionaires in Sweden was 3.8 percent – a smaller rate of increase than during 2004 and significantly lower than in Norway. 2004 was a record year for Sweden, producing 2,400 new dollar millionaires.

Many parts of the world, including North America, saw the rate of personal wealth growth decline in 2005.

Swedes suspicions that their Norwegian neighbours are ‘rich as trolls’ was confirmed by the report. In Norway, the number of dollar millionaires grew significantly, with 3,000 people joining the club, a 6.5 percent rise taking its size to just under 50,000. Denmark experienced the smallest rise in Scandinavia at 3.2 percent.

North America is the region with the largest number of dollar millionaires and in which the total wealth is greatest. The number of millionaires there grew by 6.8 percent last year; in 2004 growth had been even higher, rising by 9.9 percent.

The number of dollar millionaires in the world is 8.7 million, roughly equivalent to the population of Sweden. This was up 400,000 on last year. The total wealth of all the world’s millionaires is $33,300 billion.

The greatest growth in wealth last year was in South Korea, India, Russia and South Africa.

The trend of continued wealth increase around the world is predicted to continue, the report said. The total wealth of the world’s millionaires is expected to be $44,600 billion dollars in 2010.