We all dream of becoming millionaires one day, allowing us to buy our dream houses, cars, or handbags.
Over 59 million people worldwide are lucky enough to call themselves millionaires1, but where do most of them live?
Prime Casino has dived into world wealth data to discover which cities and countries are home to the most millionaires. We’ve also analysed various factors, such as average salaries and working hours, to determine where you can become a millionaire in the shortest amount of time.
Cities Home To The Most Millionaires
1) Zurich, Switzerland - 20,374 millionaires per 100,000 people
The most popular city for millionaires to reside in is Zurich, Switzerland. Zurich has a population of almost 434,000, with around 88,400 residents being millionaires, which accounts for nearly 20.4% of the city’s population. This equates to 20,374 millionaires per 100,000 people in the city.
2) Singapore, Singapore - 4,305 millionaires per 100,000 people
In second place, with 4,305 millionaires per 100,000 people, is Singapore — once referred to as the "Silicon Valley of Asia."2. The city, located in the country of the same name, has a population of almost 5.7 million people. Around 244,800 citizens are millionaires, accounting for 4.31% of Singapore’s population.
3) Dublin, Ireland - 4,083 millionaires per 100,000 people
The Irish city of Dublin takes third place, with just over 4% of its residents being millionaires. Dublin has a population of around 592,700 people, with 24,200 having a fortune in the millions. This means there are just over 4,080 millionaires per 100,000 people, perhaps looking for the investment opportunities the city has to offer.
Countries Home To The Most Millionaires
1) Switzerland - 12,265 millionaires per 100,000 people
Switzerland has the highest density of millionaires, with 12,265 millionaires per 100,000 people. Thanks to a stable economy and prime real estate, the country has long been attractive to the wealthy. Switzerland has a population of almost nine million, of which nearly 1.1 million are millionaires, accounting for almost 12.3% of the country’s population.
2) Australia - 6,905 millionaires per 100,000 people
In second place is Australia, where there are thought to be over 1.8 million millionaires. The country has a population of over 26.6 million people, meaning that 6.9% of the population has a fortune in the millions. In Australia, there are 6,905 millionaires per 100,000 people. Some of the country’s most profitable sectors include energy and mining, financial services, and healthcare3.
3) United States - 6,852 millionaires per 100,000 people
Following closely behind is the U.S., with over 6.85% of the total population being classed as millionaires — at 6,850 millionaires per 100,000 people. The country is home to over 331 million residents, with over 22.7 million of these being millionaires.
Cities Where You Can Become A Millionaire The Quickest
We’ve found the places where people can earn a million the quickest by looking at the average earnings and working hours. However, before you look to move, bear in mind this is based on working seven days a week, 52 weeks a year.
1) Zurich, Switzerland - 540 weeks to become a millionaire
As well as being the city with the most millionaires, Zurich is also where you can become a millionaire in the shortest time. On average, Zurich residents earn a yearly net salary of almost $96,300, equating to just over $1,850 per week after working an average of less than 30 hours.
Considering this, it would take approximately 540 weeks (10 years, 3,791 days or 16,162 hours) for the average Zurich resident to become a millionaire.
3) New York, United States - 770 weeks to become a millionaire
In second place is the city that never sleeps — New York. Residents of the Big Apple work an average of almost 34 hours a week, earning them nearly $1,300. This amounts to a yearly net salary of $67,555.
So, for the average New Yorker, it would take around 770 weeks (15 years, 5,403 days or 26,127 hours) to become a millionaire.
4) London, United Kingdom - 893 weeks to become a millionaire
People living in London have the third-quickest route to becoming a millionaire, with residents earning a yearly net salary of just over $58,200. This means that after working an average of just over 32 hours per week, those living in London would earn a weekly wage of around $1,119.
If you’re living in the UK’s capital, you could become a millionaire within 893 weeks (17 years, 6,271 days or 28,658 hours).
Countries Where You Can Become A Millionaire The Quickest
1) Switzerland - 545 weeks to become a millionaire
Residents of Switzerland have the shortest route to becoming millionaires, earning an average yearly net salary of just less than $95,500. This means they earn almost $1,840 per week after working an average of just over 29 hours.
Therefore, it would take around 545 weeks (10 years, 3,822 days or 16,011 hours) for someone to become a millionaire in Switzerland.
2) United States - 677 weeks to become a millionaire
The country with the second-shortest time to become a millionaire is the U.S. People who live in the country work an average of almost 35 hours a week, earning them nearly $1,480, which amounts to a yearly net salary of almost $76,780.
This means that it would take the average U.S. resident approximately 677 weeks (13 years, 4,754 days or 23,588 hours) to become a millionaire.
3) Sweden - 819 weeks to become a millionaire
In third place, and appearing on the list for the first time, is Sweden, where residents earn a yearly net salary of just over $63,500. This means that after working an average of almost 28 hours per week, those living in Sweden would earn a weekly wage of just over $1,220.
If you live in this Scandinavian country, you could become a millionaire within 819 weeks (16 years, 5,748 days or 22,676 hours).
Methodology:
We used Henley & Partner’s ‘World’s Wealthiest Cities Report 2024’ to discover how many millionaires there are in various cities.
Similarly, we used UBS Insight’s ‘Global Wealth Report 2024’ to discover how many millionaires there are in various cities.
We then calculated the number of millionaires as a percentage of the population (sourced from City Population) and per 100,000 people.
We used Numbeo to gather the average income for each city and World Data to gather the average income for each country. All Numbeo data is correct as of 28 June 2024. We then calculated each location's average hourly, daily, and weekly earnings.
We used Clockify to discover each city's average annual working hours and OECD Data to discover the average annual working hours for each country. We then calculated both the average weekly and daily working hours for each place.
We used World Bank Group to gather the average GDP per capita for each country.
Finally, we calculated the time it would take to become a millionaire in each city or country in hours, days, and weeks. We used 365 days rather than assuming a specific number of working days throughout the year. We divided one million by the average hourly, daily, or weekly earnings.
Some cities and countries were removed from the list due to insufficient data.
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