Turkey ranks second worldwide in growth of dollar millionaires

According to UBS’s Global Wealth Report, Turkey added roughly 5,650 new dollar‑millionaires over the past year, bringing the total to about 93,000. This 6.4% increase places the country second globally in the rate of new dollar‑millionaire creation, behind only Lithuania, which posted an 8.0% rise.

The report links Turkey’s surge to high inflation and sharply rising asset prices, especially in real estate, which have pushed many households’ nominal wealth above the $1 million threshold. While financial assets account for less than 20% of total wealth, the appreciation of non‑financial assets has been the main driver.

Globally, personal wealth in dollar terms grew 10.8%, generating roughly one million new dollar‑millionaires. The United States led in absolute numbers with more than 441,000 new entrants, followed by China, the United Kingdom and France.