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

The number of dollar millionaires in Indonesia is projected to rise by more than half over the next five years as growth in emerging markets is expected 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 that as many as 151,000 millionaires will reside in Indonesia by 2020, compared to 98,000 today, placing it among the top 20 nations with the most number of obscenely wealthy people after China.

“Growth in the number of millionaires is often taken as a sign of the health of an economy and reflects its ability to generate wealth at the top end,” Credit Suisse said in 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 and non-financial components of wealth based on data from the International Monetary Fund’s latest World Economic Outlook report.

Indonesia is 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

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