Around 159,000 Portuguese had assets valued at over US$1 million at the end of last year, becoming part of the club which is home to a total of 62 million millionaires, according to Credit Suisse’s Global Wealth Report 2022.

Compared to 2020, the number of Portuguese millionaires fell by around 10,000, translating to a decrease of around 6 percent in one year – against the 9 percent growth recorded worldwide.

According to the Swiss bank report, each of the more than 8.3 million Portuguese adults had, on average, an estimated wealth of over 154,000 dollars (€154,000), which represents an increase of 8 percent in relation to the previous year and above the world average of $87,500. At the beginning of the decade, the average wealth of a Portuguese person was US$52,400.

The vast majority of Portuguese adults have an estimated wealth of between US$10,000 and US$100,000 (43.8 percent) and between US$100,000 and US$1 million (31.3 percent).

The Credit Suisse study shows that the number of people at the bottom of the wealth pyramid (with assets of up to US$100,000) has dropped, increasing at the top (with wealth above US$100,000).