Three of the world's six nations, with the highest number of millionaires, were in the Gulf region, a new report has revealed. According to Boston Consulting Group's Global Wealth report, Kuwait, Qatar and the United Arab Emirates were placed at the fourth, fifth and sixth spots in the list.

Singapore led the league table for the highest proportion of millionaire households at 11.4 per cent followed by Hong Kong and Switzerland. The US had the seventh-highest density of millionaires at 4.1 per cent, the report said.