There are more millionaires than ever in the Netherlands despite the economic crisis. The number of Dutch residents worth more than one million US dollars increased by almost 15 percent to 121,700 last year. Worldwide, the number of millionaires hit 10 million, of whom 20 percent are worth over 30 million dollars.

The figures are featured in World Wealth Report published by the wealth management and investment agencies Merrill Lynch and Capgemini.

The number of wealthy people in the Netherlands took a dive in 2008 but came back to hit a record level in 2009. The Dutch increase is greater than elsewhere in Europe, but lower than the international rise. Patrick Neuwirth from Capgemini puts the increase in Dutch millionaires down to good entrepreneurial skills.

“The number of Dutch millionaires has increased a lot compared to other parts of Europe because the Dutch took bigger risks, went for upcoming markets and took advantage of the Dutch market’s bullish performance and of shares which on occasion as much as doubled in worth.”

Market recovery
The agencies say the increase in the number of millionaires worldwide is thanks to the recovery of emerging markets in India, China and Brazil. The number of millionaires in India has grown by 50 percent to over 126,000. Wealth creation was greatest in developing countries although the most millionaires are still to be found in the United States, Japan and Germany.

Last year, the rich favoured safe investments with predictable returns. Real estate regained popularity and, as house prices fell, the wealthy snapped up bargains.

Regions of growth
In 2008, people preferred investments close to home but, in 2009, interest moved back to regions of growth. The agencies forecast that this trend will continue in 2010.

Mr Neuwirth has a few tips for people who want to become millionaires.

“Entrepreneurial skills are the best: 50 percent of millionaires become rich that way or by selling their own firm. Then there are the 20 percent who have inherited their wealth and about 10 percent get rich through high earnings or good investment portfolios.”

Those who follow his advice and become millionaires, should waste no time in getting information about good investments, because old money creates new money. Mr Neuwirth says those with fortunes of over 30 million are especially good at investing their cash.