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24/7 Wall St: 10 Countries With the Most Millionaires

8. Italy

Millionaire Households: 270,000
Ultra High Net Worth Households: 494
GDP (millions of USD): 2,055,114 (8th highest)

Italy’s ranking for number of millionaires fell from 6th in 2009 to 8th in 2011. This is probably the result of the international financial crisis worsening economic conditions in the country. Unemployment alone has risen from 6.2% in 2007 to 8.4% as of March 2011, according to the U.S. Bureau of Labor Statistics. Factors such as this can end up hurting even big earners. Regardless, the country is home to a large community of millionaires and billionaires. The Italian economy includes many companies which produce consumer goods such as automobiles, and textiles.
(iStock Photo)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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