Stock Kuwait shopping mall
Shoppers at a mall in Kuwait Image Credit: AFP file

Dubai: Approximately 15 per cent of Kuwait’s population are millionaires, placing the country third in the global ranking, according to World of Statistics.

Switzerland leads the list with 15.5 per cent of its population being millionaires, closely followed by Hong Kong at 15.3 per cent.

Kuwait follows at a close third, outpacing Singapore which recorded 12.7 per cent of its populace as millionaires.

Australia is the last country in which the number of millionaires exceeded 10 per cent of the population, coming in at 11.2 per cent.

Notably, despite its significant population and high inflation rates, the US sits lower on the list with about 9.7 per cent of its population being millionaires.

However, in absolute numbers, the US houses nearly 10 per cent of the world’s total number of millionaires, estimated to be around 48 million, according to World Population.

In the context of the Arab world, Qatar ranks second after Kuwait, and 22nd globally, with millionaires representing 3 per cent of the population.