“This is the largest increase in millionaire numbers recorded for any country in any year this century,” it said.
Worldwide, the total number of millionaires stood at 62.5 million at the end of 2021, Credit Suisse estimated.
The report, which was released Tuesday, found that aggregate global wealth totaled $463.6 trillion at the end of last year, jumping 9.8%.
Unsurprisingly, the top two economies — the United States and China — saw the biggest gains in household wealth, followed by Canada, India, and Australia.
Each country was likely helped by significant rises in economic output in 2021, combined with “vigorous” activity in their respective housing or stock markets, the bank said.
That stands in sharp contrast to the world’s most fortunate, even if they aren’t immune to those factors.
Last year, the wealth share of the top 1% “rose for a second year running,” Credit Suisse said in its report. Those individuals accounted for 45.6% of the world’s wealth in 2021.