The number of millionaires the world over just exceeded 20 million people. How well is Switzerland keeping up?

Eight of ten countries in which the ranks of the wealthy will rise in the next five years are in Asia, real estate firm Knight Frank said in its annual «Wealth Report». The list is led by India, before the Philippines and China.

And yet Europe remains home to most of the world's wealthy: 70,627 people with more than $30 million in assets, or so-called ultra-high net worth clients, are at home here. That is nearly 20,000 more than in North American and Asia.

Ultra-Rich Clans

Switzerland soaks up a major chunk of business with the ultra-rich, the study shows: 331,686 millionaires live in the alpine nation, which is 40,000 more than five years ago. A look at the ultra-rich segment shows a similar development: 4,768 of them live in Switzerland, which is 600 more than in 2013. Of that, more than half live either in Zurich or Geneva.

The Swiss faction is growing: Knight Frank predicts that Switzerland will attract 18 percent more millionaires in the next five years, and one-fifth more ultra-rich individuals and families. The alpine nation has long been a haven for wealthy families including the Heinekens (beer and spirits), the Brenninkmeijers (retail), and the Safras (banking).
 

Billionaire Jump

The realtor pinpointed anti-government protests in France as the reason for the shift. If the movement morphs into a new wave of populism, the rich may increasingly seek havens which traditionally haven't seen much street violence – like Switzerland, the study said.

Switzerland's biggest wealth jump was with billionaires: if just 13 of them were Swiss-based five years ago, their ranks mushroomed to 36 by 2017. Knight Frank said the figure held steady until now, but is expected to climb again to 41 by 2023.