Ultra-wealthy flocking to Turkey! Highest growth recorded in our country

British real estate consultancy firm Knight Frank has shared the 2024 data from its annual 'Wealth Report' with the public. According to the report, global wealth growth gained momentum due to changes in interest rates, the performance of the US economy, and the rise in stock markets. The number of ultra-wealthy individuals, referred to as Ultra-High-Net-Worth Individuals (UHNWI), increased by 4.2 percent globally, surpassing 626,600 people.

As reported by Habertürk, the largest proportional increase in the number of ultra-wealthy individuals in 2023 occurred in Turkey. The report noted a 7.2 percent increase in North America and a 6.2 percent increase in the Middle East, while a decline was observed only in Latin America. Despite the slowdown in global growth, it was stated that the expectation for an increase in the number of ultra-wealthy individuals continues. While the number of ultra-wealthy individuals worldwide is expected to grow by 28.1 percent by 2028, increases of 50 percent in India and 47 percent in China are projected, particularly in Asia.

9.7 PERCENT INCREASE

In the Knight Frank report, the number of ultra-wealthy individuals in 30 countries and the changes between 2022 and 2023 were examined in detail. According to the report, there was a 9.7 percent increase in the number of ultra-wealthy individuals in Turkey. While the number of people with a net worth of over 30 million dollars was 1,761 in 2022, this figure rose to 1,932 in 2023.

Turkey was followed by the US with 7.9 percent and India with 6.1 percent. Other countries that experienced an increase of over 5 percent were listed as South Korea (5.6%) and Switzerland (5.2%).

In the projections for 2028, Turkey ranks third after India and China with an expected increase of 42.9 percent.