The number of ‘high net worth’ individuals in the Netherlands grew 16.5% last year, well above the European average, according to the latest World Wealth Report from Capgemini and RBC.

The report defines a person of ‘high net worth’ as having over $1m (€730,000) or more to invest.

The increase means the Netherlands now has 173,000 people with assets of over €1m, the AD reports.

At the same time, their total assets also rose in value 16.6% to €322bn, the report said.

In Europe as a whole, the number of high-wealth individuals rose 12.5% while their wealth grew 13.7%.

Variations

There are wide variations in estimates about the number of millionaires in the Netherlands

Research published by Van Lanschot Bankiers last November said the Netherlands has some 92,000 households with assets of over €1m. Van Lanschot says households are considered to be millionaires if they have assets of over €1m, excluding pensions and the property they live in.

Research by the Boston Consultancy Group published in 2013 put the number of Dutch millionaires in 2012 at 191,000.