Mubasher: Kuwait was ranked the 17th worldwide in terms of the world’s wealthiest countries in 2017, according to the recent World Wealth Report 2018, as reported by Alrai Newspaper.

The report said that Kuwait had about 174,000 millionaires in 2017, 9% higher than the 159,000 registered in 2016.

The incline in the number of Kuwaiti millionaires in 2017 is attributed to a growth of 5.6% in capital despite the 2.5% decrease in the gross domestic product (GDP) and the 3.3% drop in the real estate market.

Meanwhile, Saudi Arabia came in the 16th place globally with about 179,000 millionaires.

The US topped the list with more than 5 million millionaires in 2017, followed by Japan and Germany with 3.162 million and 1.28 million millionaires, respectively.

China included 1.256 million millionaires in 2017, Alrai said.

The World Wealth Report 2018 clarified that wealthy people across the globe are expected to have a fortune valued at $100 trillion by the year 2025.