Türkiye tops surge in 'ultra-rich' population, report reveals

ANKARA

Türkiye emerged as the frontrunner in the surge of ultra-rich people worldwide last year, according to a report by Knight Frank, a U.K.-based real estate consultancy.

The report, which compares data from 2022 to 2023, defines "ultra-rich" as those with fortunes exceeding $30 million.

Among 30 countries surveyed, the country secured the top spot with a surge of 9.7 percent. In 2022, Türkiye had 1,761 ultra-high net worth individuals (UHNWIs), a figure that soared to 1,932 in 2023.

The United States followed closely with a 7.9 percent increase, while India trailed with a 6.1 percent rise.

Globally, the number of UHNWIs surged by 4.2 percent, surpassing 626,600 individuals. Notable increases were observed in North America (7.2 percent) and the Middle East (6.2 percent), with Latin America being the sole region to witness a decline.

Despite concerns over global economic slowdown, expectations remain optimistic regarding the proliferation of ultra-rich individuals. By 2028, experts anticipate a 28.1 percent increase in the global UHNWI population.

However, despite its uptick in ultra-rich individuals, Türkiye ranks comparatively low in terms of the ratio of UHNWIs to the population. With only 23 ultra-rich individuals per million people, Türkiye lags behind its counterparts in this metric.