According to New World Wealth research, the US is currently the wealthiest country in the world, with a total of $62.58trn, followed by China, Japan, the UK and Germany.
China has a total wealth of $24.8trn, while Japan has $19.52trn and the UK $9.9trn.
In 2027, the US is expected to remain the wealthiest nation with $75.1trn, growing 20% in ten years. But China will be within touching distance, with a total wealth of $69.45trn, after growing its wealth by 180%.
India will overtake the UK and Germany thanks to an expansion of 200% to $24.69trn, becoming the fourth largest wealth market. The UK is expected to have a total of $10.9trn, with a 10% rise from 2017.
Meanwhile, Australia will overtake Canada thanks to a 70% growth in its wealth to $10.4trn.
NW Wealth also said that 95,000 millionaires have migrated last year, with Australia being the most popular destination for the past three years.
Other popular destinations include the US, Canada, UAE, Switzerland, Israel, Singapore, the Caribbean, New Zealand, Cyprus, Malta, Mauritius, Monaco, Portugal and Spain.