# How does having many wealthy people in a country benefit the country? - Reading news like this [Singapore now 5th richest city in the world, with 250,000 millionaires + 26 billionaires; even more wealthy people expected in 2022](https://www.msn.com/en-sg/news/singapore/singapore-now-5th-richest-city-in-the-world-with-250000-millionaires-2b-26-billionaires-even-more-wealthy-people-expected-in-2022/ar-AA12kRrI) always makes me wonder how that benefits the country. How does such ranking help me? ## Ways it is good for the country? A friend explained this to me in simple terms. 1. More wealthy people = more funds deposited in banks = Banks got more money to loan to businesses and for investment. 2. More supplies of money available = lower interest rates. 3. Wealthy people consume products and services = stimulate the economy 4. Wealthy people may have businesses here = which create jobs. Now i understand :)