The number of millionaires is on the rise as the growth of private wealth around the world surged in 2013.
The total number of million households reached 16.3 million in 2013, or 1.1 percent of all households globally, according to a report by the Boston Consulting Group on Monday. In 2012, meanwhile, that number was just 13.7 million.
Of those figures, the U.S. holds the highest number of millionaires, with 7.1 million, along with the “highest number of new millionaires (1.1 million)."
China, too, saw robust growth with 900,000 more millionaires entering the ranks to 2.4 million total. Those numbers easily surpass Japan, where millionaires are down to 1.2 million households “driven by the 15 percent fall in the yen against the dollar,” according to the report.
The report also stated that the highest density of millionaire households is in Qatar, where 175 out of every 1,000 households are above that threshold. All findings in the report are based on U.S. dollars.