An article of mine from Today’s Sunday Business Post:
One in 50 Irish households are millionaire households in dollar terms, according to a new report on global wealth.
The report – by Boston Consulting Group – found that almost 2 per cent of Irish households were dollar millionaires, putting Ireland in 13th place in terms of its percentage of millionaire households in the world.
Ireland ranked above Britain and Japan in the top 15 – about 1.7 per cent of households in those countries are dollar millionaires.
The United Arab Emirates topped the list, with 6 per cent of its households in the millionaire stakes.
The global average was 0.5 per cent. While Ireland has a high percentage of millionaire households, it did not rank in the top 15 in actual number of households.The report found that there were 7.2 million millionaire households across the globe.
Almost three million of those – or about 40 per cent – were in the US.
Japan had the second-highest number of millionaire households in actual terms and Britain was in third place.
London has 225,000 millionaire households, the highest concentration of millionaire households in Europe.
A new report on national income and expenditure released by the Central Statistics Office (CSO) last Friday showed that gross national income last year was up 5.4 per cent on the previous year’s figure.
The report showed that there was a 5.3 per cent rise in gross national disposable income, which was on average almost €32,000 per head of population.