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WEALTH

More Swedes become dollar millionaires

There are more truly wealthy people in Sweden than ever before.

More Swedes become dollar millionaires

But dark clouds are gathering along the golden-hued horizon as growth in the number of the wealthy slows down.

Last year, the number of dollar millionaires in Sweden rose to a record high 50,000.

The figure increased by 1,700 from the year before, which represents a growth rate of 3.5 percent.

Dollar millionaires include individuals with economic assets equal to at least one million US dollars, excluding one’s private residence.

Nevertheless, Sweden had the lowest growth of dollar millionaires in the Nordic region.

Norway saw the biggest increase, with a 12.9 percent rise resulting in 62,000 dollar millionaires.

The most fat cats can be found in the United States, Japan, and Germany, which is where 53.3 percent of the world’s dollar millionaires live.

Even in the United States, however, growth in the number of dollar millionaires has dropped drastically, down to 4.4 percent compared with 10.3 percent in 2006.

Countries with the highest growth in the number of dollar millionaires include China, Brazil, and Korea.

The collective net worth of the world’s dollar millionaires grew in 2007 to $40.7 trillion, an increase of 9.4 percent.

The study was carried out by CapGemeni and Merrill Lynch for the twelfth year in a row and includes statistics from 71 countries.

ESSENTIAL SWEDEN

Banks, bills and mortgages: Essential articles for life in Sweden

Wondering which banks give mortgages to foreigners, or what happens if you are struggling to pay a bill? Essential Sweden this week answers those questions and more.

Banks, bills and mortgages: Essential articles for life in Sweden

Interest rates may soon drop, but there’s still hope if you’re finding it hard to pay your mortgage each month.

Which bank should you use if you’re a recent arrival to Sweden? We asked our readers for their tips: here’s what they said,

We hope you never find yourself in the situation that you’re unable to pay a bill in Sweden, but it’s good to know what happens if you do, just in case.

Owning a second home is relatively commonplace in Sweden, and they often sell for under a million kronor in more remote areas. But what should you take into account when considering a purchase?

People who arrived in Sweden as adults often need to top up their pension savings, and one way to do this is via investments. What are the different types of investing and how do they work?

Finally, if you’re planning on buying a home any time soon, it’s worth knowing which banks require you to have permanent residency in Sweden before you apply for a mortgage. 

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