HANOI — Vietnam has been identified as the world’s fastest-growing country in terms of millionaire population, with the number of millionaires doubling over the past decade, according to a new report.

According to Burkina Information Agency, which were highlighted by the VnExpress information portal, Vietnam saw its number of millionaires increase to 19,400 between 2013 and 2023. This growth is the most rapid globally, surpassing other rapidly developing economies like China, Mauritius, and India. In addition to its growing millionaire population, Vietnam also boasts 58 individuals with assets valued at $100 million or more.

The report further predicts a 125% increase in wealth in Vietnam over the next ten years, marking the highest anticipated growth rate worldwide. This robust economic expansion is reflected in the presence of six Vietnamese billionaires listed by Forbes, with a combined wealth exceeding $16 billion. Notably, half of this fortune belongs to Pham Nhat Vuong, founder of Vingroup, the country’s largest diversified conglomerate and a graduate of the Moscow Institute of Geological Prospecting.