economy
May 5, 2026
Millonarios Fans*
Director of Portafolio 05/04/2026 18:22 Updated: 05/04/2026 21:27
TL;DR
- Countries with more millionaires have the highest Human Development Index (HDI) and better living standards.
- Sub-Saharan Africa, with a low HDI, has very few millionaires.
- Attracting or retaining millionaires strengthens a country's tax system and capital flow.
- Millionaires invest and circulate wealth, creating jobs and benefiting the middle class.
- Colombia lost 150 millionaires and nearly US$1 billion in capital in the past year.
- Colombia's millionaire population decreased by 15% in the last decade.
- Foreign direct investment in Colombia fell by 50% in Q1 2026.
- Reasons for emigration include wealth tax, political uncertainty, and hostility towards wealth creators.
- Costa Rica and Panama are attracting millionaires from other countries.
- Demonizing the rich destroys wealth rather than redistributing it.
- The focus of economic policy should be on creating conditions for more Colombians to become millionaires, not on punishing existing ones.