Data from New World Wealth (NWW) released in December 2020 showed that South Africa is home to over twice as many high net worth individuals (HNWIs) as any other African country. An HNWI is defined as a person who has a net worth of $1 million or more.
From a global perspective, South Africa ranks 30th in the world and ahead of major economies such as Greece, Portugal and Turkey.
The factors that draw these wealthy individuals to South Africa included things like lifestyle aspects, a large and free media, a well developed banking system and one of the 20 biggest stock exchanges in the world.
