Number Of Millionaires In Scotland Up By 41%
The number of millionaires in Scotland has increased by 41% over the past five years, according to new research.
The number of millionaires in Scotland has increased by 41% over the past five years, according to new research.
Barclays said there are now 48,000 millionaires living in Scotland, driven by a healthy financial services sector and a thriving'' entrepreneurial scene.
Its UK Prosperity Map ranked Scotland 10th out of 12 regions, with London in first place and Wales and the north east trailing the table.
The index takes into account numbers of millionaires, average annual pay, the percentage of households giving to charity, business survival rates and exam scores.
Edinburgh and Aberdeen were ranked among the top UK cities for average earnings, with the financial and oil and gas sectors driving high wages.
Scotland's average annual salary is behind only that of London and the south east at £23,626, according to the research.
John Godfrey, a regional director of Barclays Wealth and Investment Management, said: The 41% increase in the number of millionaires since 2010 has been driven by factors including a healthy financial services sector and a thriving entrepreneurial scene.
Recently we have seen an increase in the number of clients in Scotland who have made their fortune by selling their businesses, having managed them successfully through the recession. We expect the Scottish entrepreneurial scene to continue going from strength-to-strength in future.''