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The international investment migration advisory firm notes that an outflow of millionaires was also observed in the four other BRICS members: South Africa (- 20%), Egypt (- 22%), Brazil (- 28%), and Iran (- 38%). The pool of millionaires surged by almost twofold in China and now stands at over 860,000. The indicator soared by 85% in India to 326,000 and in the United Arab Emirates by 77% to 116,500.
According to estimates from Henley & Partners, there are currently 409 people with a net worth of over $100mn in Russia, as well as 43 dollar billionaires. Russia ranks third as regards these two indicators after China (2,352 and 305 respectively) and India (1,044 and 120).
Henley & Partners estimates total accumulated investments in BRICS members at $45 trillion. According to the firm's projections, the number of dollar millionaires in all the group’s members will grow by 85% by 2033 from 1.6mn at present to over 3mn.
4.5.3 Retail sector dynamics
Retail Sales in Russia increased 10.50 percent in November of 2023 over the
same month in the previous year.
58 RUSSIA Country Report February 2024 www.intellinews.com