Only 38k Filipinos will become millionaires by 2015

Only 38,000 Filipinos or roughly 0.04% of the Philippine population will become millionaires (in US$) by the year 2015. This is according to a report published by Julius Baer, a Swiss private banking group.
The report determined which countries in Asia will produce the most number of high networth individuals, or people with net worth of at least US$1 million (PHP42.5 million).
The Philippines is actually the last in the list of countries surveyed, producing only 38,000 US$ millionaires by 2015. In contrast, China will have 1.378 million high net worth individuals or around 0.10% of the expected Chinese population in 2015.
Filipino millionaires will have a combined net worth of $164 billion, while China’s rich will own a combined $8.7 trillion.
Singapore is the country in Asia that will produce the most number of high net worth individuals as a percentage of the population. The report estimates Singapore to have 129,000 millionaires — or 2.68% of the population — with a combined net worth of $616 billion.
The table below summarizes the estimated number of high net worth individuals and combined wealth for each country by 2015, based on the survey.
Graph and Table: High Net Worth Individuals in Asia by 2015

Source: Julius Baer, Swiss private banking group
Related reading:

About the Author

PSEi support seen at 6,200 and 6,000 amid weaker Peso

In a not-so-surprising move, the U.S. Federal Reserve (Fed) yesterday raised interest rates by 75 basis points (bps) or 0.75% in a bid to tame rising inflation in the United States. This was the third consecutive 0.75% rate hike by the Fed, which brings the federal funds rate, the central bank’s benchmark interest rate, to ... Read more

Official SWIFT Code of BDO, BPI, Metrobank, Philippine banks

When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc.), you’ll surely need the SWIFT Code of the bank. Look no further because you can find all the SWIFT Codes you need in this list! Make sure you’re using the right bank code ... Read more

How to Waive your Credit Card Annual Fee (BDO, BPI, Metrobank, RCBC, Citibank, UnionBank)

Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Majority of cardholders are familiar with this fee and majority of us likely pay this grudgingly year after year after year. In the case of my credit card with BPI (Bank of the Philippine Islands), I’m ... Read more

Why Filipinos do not become business owners or entrepreneurs

For a majority of Filipinos, entrepreneurship does not seem to be a typical, expected path. This is not surprising, considering that in school, students are primarily taught to become employees after graduation. Students train for years to become staff workers, reporting to a supervisor, and just waiting to receive their wages or salaries every month. ... Read more

My experience investing in Mutual Funds in the Philippines

I started investing in mutual funds when I was 22 years old. As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. One time while I was on vacation in the Philippines, I saw a large billboard in EDSA ... Read more

Income Tax Tables in the Philippines (2022)

The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

19 thoughts on “Only 38k Filipinos will become millionaires by 2015”

    • Mr Asufra,i’m so sure you can find investments that will give you earnings more than 1%. Others can give you even 15% you just need to look for more investment avenues – not savings. Just like Hope7812 said “Kaya naman naten” and to “Have open mind on ways to increase (not to just save) our income 🙂 God bless.

      • @uberpositive i know it i mean the chances to become a multi millionaire here in the phils. is less than 1% according to this article 38,000 Filipinos only for 90M population and who are those 38k the chinese? wtf…

  1. This is a sad truth. We need to increase our financial literacy. Stop think that we are poor. We need to change our mindset. Have open mind on ways how to increase our income. Try to have a small business. Kaya naman natin. 

    • I think we will start to mold our Filipino children on financial literacy, but it needs to start it with the parents. thats the missing skills on us. Financial adviser is only known by the rich people….talagang kaya naitin. Just a mind set. Think Big!!!! and act!!!!

  2. tama.. everyone needs to be financially literate. pero nakikita ko nmn na pabata ng pabata ung mga interested sa business and income generating assets. for me.. it’s really good. and i’m happy to share what i know..

  3. Stupid Flips. South Korea and Malaysia were in worse shape than you before and now they’re better. You Flips had more than 30 years to make yourself look less of a third world country. Pearl of the Orient? Are you kidding me? How about Septic Tank of the World?! Too much garbage on the streets, horrible pollution, rude Flip attitude, and corrupt Catholic officials. You know what, I bet you a million dollars your garbage of a country will still be the same in 2040. Now it would be even more embarrassing if Myanmar is richer than you.

  4. Does your blog have a contact page? I’m having a tough time locating it but, I’d
    like to send you an e-mail. I’ve got some ideas for your blog you might be
    interested in hearing. Either way, great site and I look forward to seeing it grow over time.

  5. Hi my family member! I want to say that this post is amazing,
    great written and come with approximately all vital infos.
    I’d like to peer extra posts like this .

  6. Wow, superb blog layout! How long have you been blogging for?
    you make blogging look easy. The overall look of your site is
    magnificent, as well as the content!

  7. It’s a pity you don’t have a donate button! I’d without a doubt donate to
    this excellent blog! I guess for now i’ll settle for bookmarking and
    adding your RSS feed to my Google account. I look forward to new
    updates and will talk about this blog with my
    Facebook group. Talk soon!

  8. Have you ever thought about including a littl bit more than just your articles?
    I mean, what you say is valuable and everything. However think off if you added some great picctures or videos to give ylur posts more, “pop”!
    Your content is excellent but with image aand clips, this website could certainly
    be one of the very best in its field. Superb blog!


Leave a Comment