Leading this ranking is Taiwan, which UBS expects will have over one million millionaires by 2028.

Taiwan could see the fastest growth in millionaires, largely due to its powerful microchip industry as well as immigration of wealthy foreigners.

In second place is Turkey, with a projected 43% increase in millionaires by 2028. This could be due to various reasons, including the country’s growing tech sector.

According to the World Economic Forum, Turkey hosts six unicorn companies (startups valued at over $1 billion). This rise in millionaire populations reflects broader global wealth trends, with significant growth in the Asia-Pacific region and emerging economies like Indonesia, Thailand, and Mexico.

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