MAKING A DIFFERENCE

Bits and BobsLook out for the BRICS nations, whose economic, geopolitic and travel clout are getting bigger.

The rich are getting richer in BRICS

By Travel Weekly Asia

|

Feb 05, 2024

|

These emerging BRICS economies now outshine the G7, representing over 45% of the global population and boasting a 36% share in global GDP.

These emerging BRICS economies now outshine the G7, representing over 45% of the global population and boasting a 36% share in global GDP. Photo Credit: Adobe Stock/Björn Wylezich

In a report released by Henley & Partners and New World Wealth, the BRICS bloc's investable wealth stands at a US$45 trillion, anticipating an 85% surge in millionaires over the next decade.

These emerging economies now outshine the G7, representing over 45% of the global population and boasting a 36% share in global GDP.

China takes the lead with five cities among the top 10 wealthiest. The report predicts India to lead in wealth per capita growth, followed by Saudi Arabia and the UAE. Despite some nations seeing a dip in millionaire numbers, BRICS remains strong, offering stable markets and political systems.

Top 10 wealthiest BRICS countries

Beijing, China
- Millionaires: 125,600
- Centi-Millionaires: 347
- Billionaires: 42
Shanghai, China
- Millionaires: 123,400
- Centi-Millionaires: 322
- Billionaires: 39
Dubai, UAE
- Millionaires: 72,500
- Centi-Millionaires: 212
- Billionaires: 15
Mumbai, India
- Millionaires: 58,800
- Centi-Millionaires: 236
- Billionaires: 29
Shenzhen, China
- Millionaires: 50,300
Hangzhou, China
- Millionaires: 31,600
Delhi, India
- Millionaires: 31,000
- Centi-Millionaires: 123
- Billionaires: 16
Moscow, Russia
- Millionaires: 30,300
- Centi-Millionaires: 207
- Billionaires: 23
Guangzhou, China
- Millionaires: 24,500
Abu Dhabi, UAE
- Millionaires: 22,700
- Centi-Millionaires: 68
- Billionaires: 5

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