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Sweden is home to more dollar millionaires than ever

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Sweden is home to more dollar millionaires than ever
Swedish banknotes and coins. File photo: Fredrik Sandberg / TT
08:28 CEST+02:00
More Swedes than ever are dollar millionaires as the country rises in a global ranking.

After entering the top 25 countries by number of dollar millionaires in 2017, Sweden has now risen from 25th to 23rd place in the annual World Wealth Report published by tech and outsourcing firm Capgemini Consulting.

"What we're seeing is both that these people's wealth is growing and also that there are more people who have this wealth," said Johan Bergström, the firm's head of finance.

The number of dollar millionaires in Sweden grew from 116,000 people in 2016 to 132,000 last year, and the total wealth of all the Swedes in this category increased by a total of 14 percent.

The report also showed that young people were achieving good results in investments. Almost 38 percent of the dollar millionaires aged under 40 said they were happy with the results of their investments, compared with those over 40, only 17 percent of whom reported the same satisfaction.

"One reason might be that people earlier in life focus on creating wealth, and later in life focus more on protecting their wealth," Bergström explained.

Across the globe, the wealth of dollar millionaires grew by around 10.6 percent, with the United States, Japan, Germany and China the four largest markets for millionaires.

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