Chart Provided by Wealth-X
Monaco is the country most densely populated by ultra high net worth individuals. Fifty-five of these super-wealthy types can be found per 10,000 citizens in the principality. The information stems from a report provided by Wealth-X, which cites the 10 countries with highest density of ultra high net worth individuals among a country’s citizenry.
No surprises surfaced in the ranking of the top five countries. Liechtenstein, Luxembourg, Switzerland, and Hong Kong ranked second through fifth, respectively. Liechtenstein has 20.7 ultra high net worth individuals crop up per 10,000 people; Luxembourg has 12.7 per 10,000; Switzerland came in at 7.1 per 10,000; and Hong Kong reported 4.4 per 10,000. Kuwait, Norway and Brunei made the list due to natural resources found in those countries. Six of the top 10 countries are European and 30 percent are Asian.
"The list reflects the attraction of location, favorable tax policies and security for UHNWI [ultra high net worth individuals]. Countries that fulfill these conditions are those that see a congregation of ultra wealthy individuals and should be the focus for professionals who wish to engage with them," said Mykolas D. Rambus, CEO of Wealth-X, in regard to the report.
The study shows the low percentage of the population that makes up the demographic of ultra high net worth individuals. Based on these figures, even in Monaco, the percentage of UHNWI is less than one percent (0.55%) of its total population.
Wealth-X is a Singapore-based research firm that specializes in intelligence on ultra high net worth individuals for global banks, luxury brands, educational institutions and non-profit companies. The company has offices located at all major financial centers worldwide.