Austria's millionaires in a decline: Where is the great fortune?

Austria's millionaires in a decline: Where is the great fortune?

The current "World Wealth Report 2024" by Capgemini shows alarming trends for the millionaires in Austria. According to 5min, the proportion of Dollarmillionaries in the country has dropped noticeably. For example, 162,300 people in Austria had an assets of at least one million US dollars. This is a decline of around 8,000 compared to the previous year, when 170,300 people still fell into this category.

The total assets of this group are also declining. This dropped from 471.4 billion to about $ 461 billion, which corresponds to around 403.7 billion euros. In contrast, the number of dollarmillionaries has increased worldwide and reached 23.4 million in 2024, which corresponds to an increase of 2.6% compared to the previous year.

global trends and reasons for the decline

The increase in the doll -armileillionaries worldwide can mainly be explained by the rising courses on the global stock markets. Capgemini's report analyzes 71 countries and covers over 98% of the global gross national income and 99% of global stock exchange capitalization. The United States leads the list of around 8 million dollarillionaires, followed by Japan with just under 4 million and around 1.6 million, which together make up more than 64% of all global wealth millionaires, as ORF. Interestingly, the reasons for the decline in Austria are diverse. For example, 2022 was a bad year for global financial assets, influenced by geopolitical crises such as the Russian attack on Ukraine, increasing inflation and a decline in stock exchanges. In 2022, around 6.6 trillion euros were destroyed in investments. However, the forecasts for 2023 show a possible recovery, since experts assume global financial assets that could grow by around 6%, depending on the development of financial markets, as the Tagesschau notes.

Situation of the millionaires in Austria

A remarkable aspect of the analysis is the definition of millionaire assets. Capgemini is one of the millionaire stocks, including shares, fixed -income securities, alternative investments and non -used real estate. Personal property, such as homes, cars, jewelry or art, is not taken into account. In view of this definition, the numbers illustrate the intensifying inequality. The richest 10% of the population have 85% of global assets worldwide, which makes an average of around 270,000 euros per person.