Vietnam registered the world’s fastest growth rate in the number of dollar millionaires between 2013 and 2023, according to a recent report by global wealth intelligence firm New World Wealth and Swiss investment consultancy Henley & Partners.

As of the end of last year, Vietnam had 19,400 millionaires, marking a 98% increase over the past decade. 

It was followed by China (92%), India (65%) and the US (62%).

Vietnam has 58 centi-millionaires or those who have at least $100 million, and six billionaires.

Vietnam’s high growth rate in millionaires is partly due to a low initial base of nearly 9,800 individuals in 2013. Nevertheless, the report attributes this rapid growth to the nation's recent economic success and suggests that the trend of wealth accumulation will continue to rise.

New World Wealth, headquartered in South Africa, specializes in tracking the spending habits and trends of the world's wealthiest individuals. Their research spans 90 countries and 150 cities worldwide, with a particular focus on Asia and Africa.