Millionaires | No, the rich are not leaving Spain: their numbers are higher than the world average – El Salto
No, the rich have not left the country with a solidarity tax on great destinies, and it appears they have not abandoned the supposed “fiscal hell” that some believe Spain is. Data from the World Wealth 2024 report just released by Capgemini shows that the number of high net worth individuals (HNWIs) increased in 2023, faster than the global average.
The number of assets exceeding $1 million, excluding primary residences, rose from 237,400 in 2022 to 250,600 in 2023, according to the consulting firm. This figure represents a 5.6% increase in the number of large assets, above the global average of 5.1. %. This figure puts Spain in 15th place in the ranking. rating World of countries by population with high net worth.
Large Spanish assets increased in value by 5.7%, also outpacing the global average wealth increase of 4.7%.
If we look at the data from a wealth perspective, large Spanish assets increased their value by 5.7%, which is also higher than the growth of the global average wealth, which increased by 4.7%. This means this rich club has increased its total wealth from $687.2 billion to $726.4 billion in 2023, according to Capgemini. Or, what’s the same thing, wealthy Spaniards are saving $39.2 billion (about €36 billion) more than the previous year.
As for what led to the increase in their assets, the report states that one of the main factors was the increase in market capitalization, that is, the value of the shares they own, which grew by 17% over the year. last year.
Geographically, the number of rich people in Western Europe has increased. In fact, Italy and France are the two countries that outperform Spain with growth of 8.5% and 6.5% respectively. But these three countries are superior to other states such as Switzerland, Denmark, Great Britain and Germany. The latter increased the number of rich people by 2.2%, which is significantly lower than in Spain. On average in Europe, wealth grew by 3.9%, and the number of rich people increased by 4%.
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In Economía Cabreada on May 28, we discussed taxes in a European framework ahead of the elections with Susana Ruiz from Oxfam and Carlos Cruzado from the Union of Treasury Technicians.