These 15 countries have the highest number of millionaires

1. USA  

No. of millionaires- 4,458,000

US has almost double of the world's millionaires. The US is also home to the largest number of billionaires including, of course, Bill Gates and Warren Buffett, the richest men in the world.

2. Japan

No. of millionaires- 2,720,000

Japan has the biggest millionaire population growth on the entire list. Part of the reason, the World Wealth Report says, is that the Japanese government has been very good about setting up regulations and tax codes that encourage domestic investment. Japan has more millionaires per capita than any other country in the world.

3. Germany

No. of millionaires- 1,199,000

The continent's largest economy also has the most numbers of millionaires in Europe. In 2014, it was the world's biggest capital exporter, with a trade surplus of $285 billion. Germany also has a high number of ultra high net-worth individuals.

4. China

No. of millionaires- 1,034,000

The world's biggest population, coupled with an economy that is in a continual growth spurt, also has a lot of millionaires. China takes the fourth spot on the list. But the World Wealth Report warns that with the slowing down of China's economy, the growth of the HNWI (High Net-Worth Individuals) population might fall.  

5. United Kingdom

No. of millionaires- 553,000

With a fairly robust economy and an ever-buoyant real estate market, particularly in London, the UK has a lot of millionaires. The English capital is a magnet for the world's supercar-driving mega-rich.

6. France

No. of millionaires- 523,000

Despite a flat economy and high taxation, France is home to a huge number of millionares.

7. Switzerland

No. of millionaires- 358,000

Switzerland has highest number of millionares per capita, which should not come as a surprise given the nation's renowned affluence. The country is so rich, it has even considered introducing a monthly basic income of $2,500 a month for each and every citizen.  

8. Canada

No. of millionaires- 321,000

It may be a great country to live in but the number of millioniares have actually fallen down over the past two years. The World Wealth Report partly blames this on poorly performing equity markets.

9. Australia

No. of millionaires- 234,000

Australia had a big growth in millionaires of 4% according to the World Wealth Report. A mining and housing boom, along with with an influx of mega-rich migrants from China and elsewhere, swelled the number of millionaires in Australia. According to the analysts, the trend is to continue over the next few years.

10. Italy

No. of millionaires- 229,000

Its economy may have had a volatile 2016 but Italy is still one of the largest economies in the Eurozone, and its number of millionaires continues to increase with every passing year.

11. Netherlands

No. of millionaires- 204,000

The Netherlands had a very impressive HNWI growth of 7.5% in the last two years. Much of its wealth comes from shipping; Rotterdam is one of the busiest ports in the world and a gateway to continental Europe for most exports.

12. India

No. of millionaires- 200,000

The World Wealth Report calls it "engine of growth," and like many other developing countries India too has a huge number of millionaires.

13. South Korea

No. of millionaires- 193,000

South Korea's tech explosion shows no sign of abating, nor does its rise in millionaires. Its richest citizen is, perhaps unsurprisingly, Samsung chairman Lee Kun-Hee, worth almost $12.5 billion. Here, the millionaire wealth grew impressively faster in the last two years.

14. Spain

No. of millionaires- 192,000

Spain saw the biggest growth of millionaires in all of Europe in the last two years, which suggests that although unemployment remains a big issue there, its economy may be getting back on track. It is also home to two of the biggest football teams in the world- Real Madrid and Barcelona.

15. Saudi Arabia

No. of millionaires- 167,000

Saudi Arabia gained around 6,000 millionaires in the last two years. Though the economy is diversifying, a large number of affluent Saudis rely on oil as it is their main source of wealth.