The total investable wealth currently held in the BRICS bloc amounts to USD 45 trillion and its millionaire population is expected to rise by 85% over the next 10 years, according to the inaugural BRICS Wealth Report, published today by international investment migration advisory firm Henley & Partners in partnership with global wealth intelligence firm New World Wealth. The past decade has also seen robust private wealth growth in Saudi Arabia and Ethiopia, with their millionaire populations rising by 35% and 30%, respectively. Commenting in the BRICS Wealth Report, leading personal finance and investment expert Jeff D. Opdyke says “nations once considered ‘developing’ or ‘emerging’ or the pejorative ‘third world’ are now dynamic economies that are changing the global order. China (85%), Ethiopia (75%), South Africa (60%), and Egypt (55%) are all forecast to enjoy wealth growth of over 50% in the next decade. BRICS wealth hubs of the futureAccording to exclusive data in the BRICS Wealth Report, there are five cities that didn’t make it into the BRICS Top 10 Wealthiest Cities list for 2024 but are expected to experience particularly strong (80%+) wealth growth over the coming decade.

Source: The North Africa Journal January 30, 2024 13:54 UTC