Indonesia’s dollar millionaires to reach 151,000 by 2020

The number of dollar millionaires in Indonesia can be projected to rise by more than half over the next 5 years as growth in emerging markets can be likely to remain robust despite the recent slowdown, according to a recent study by Credit Suisse Research Institute.

In its sixth annual Global Wealth Report, Credit Suisse estimates of which as many as 151,000 millionaires will reside in Indonesia by 2020, compared to 98,000 today, placing the idea among the top 20 nations with the most number of obscenely wealthy people after China.

“Growth inside the number of millionaires can be often taken as a sign of the health of an economy along with reflects its ability to generate wealth at the top end,” Credit Suisse said inside the report.

Globally, Credit Suisse forecasts the number of millionaires to rise by 46 percent to 49.3 million adults, with the largest increase seen in China.

The annual report projects total wealth at the country level by forecasting financial along with non-financial components of wealth based on data through the International Monetary Fund’s latest World Economic Outlook report.

Indonesia can be currently home to roughly 136,000 people who lavish in luxury with the top one percent of global wealth holders today, of which 987 have a net worth exceeding $50 million, according to Credit Suisse.

Source: Credit Suisse