Despite its enormous amount of natural resources, Africa is not among the continents with the most wealth. The fact that no African country is at the forefront in the wealth distribution charts in the world is a good indicator of this.

However, this does not mean that there are no millionaires in those countries. The 2024 Africa Wealth Report, recently prepared by consultancy firm Henley & Partners, highlights a significant increase in people with wealth of more than one million dollars. Among the countries that attract the most attention Increase in the number of millionaires in MoroccoBetween 2013 and 2023, there was an average 35% increase in the number of rich people.

Casablanca, Marrakech and Tangier: Three million dollar cities

The research reveals the growth of the millionaire population in Morocco, located mainly in three cities: Casablanca, Marrakech and Tangier, which became the epicenter of wealthIt is home to a growing number of wealthy people with fortunes ranging from one million to one billion dollars.

According to the research, Tangier, a strategic port in terms of maritime trade in the Strait of Gibraltar, hosts 1,000 millionaires. Six of these millionaires have a fortune of over $100 million, and only one person exceeds the figure of ten and is considered a billionaire.

List of cities with the highest population of millionaires in Africa Source: Henley & Partners

This figure is an unprecedented figure in the records of the city, which currently ranks 17th among the richest cities in Africa and third in Morocco. In just ten years, Tangier has seen a 42% increase in the number of millionaires.

Just ahead of it is Marrakech, which ranks 13th in the ranking with 1,400 millionaires, 12 millionaires with a fortune exceeding $100 million and two billionaires. magnificently 65 percent increase in the number of millionaires Over the last decade, Marrakesh remains one of the favorite destinations of the wealthy elite in North Africa, gaining many points after applying as a joint venue for the 2030 Football World Cup.

Casablanca is not far behind in the list of cities with the most millionaires in Africa, rising to ninth place with 2,800 people with a net worth exceeding $1 million, doubling the number of rich people in Marrakech. million and more than 1 billion. This represents a 24% increase over the last decade.

Growth of wealth in Morocco

While South Africa continues to lead the wealth rankings in Africa, Egypt also does this by segmenting it by the total number of billionaires. Morocco positions itself as key player It ranks fifth on the continent, with cities such as Casablanca, Marrakesh and Tangier showing impressive growth in wealth.

This is directly reflected in the price of the land to be built. The $2,200 paid per square meter in Marrakech represents a significant increase in housing prices. Tangier follows at $1,600 per square metre, and paradoxically Casablanca, home to the most millionaires, has the cheapest land of the three at $1,400 per square metre.

South Africa remains the country with the largest population of millionaires Of the entire African continent, among whose population there are 37,400 millionaires, 102 have more than 100 million and 5 have more than 1,000 million. Although the figures are highest in Africa, they represent a 20% decline in the number of millionaires over the past decade.

The total population of millionaires in Africa consists of 135,200 millionaires, 342 centillionaires and 21 billionaires.

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