The information published a few months ago by BiznisInfo.ba, that the Bosnian town of Zivinice has over 150 millionaires, caused a real torrent of reactions from the public, and the town was called the "city of millionaires."

This information was presented by dr. Samir Vildic, the President of the Board of Directors of the Association of Entrepreneurs in BiH. According to him, statistically (that is, as a percentage of the population), Zivinice has many more millionaires than Berlin, that is, it has the same number of millionaires as Cologne.

Earlier, while investigating the truth of this data, biznisinfo.ba obtained information that in 2022 there were 110 companies in Zivinice with an income of over one million Bosnian marks (some € 500,000), from which one can conclude that it is realistic that there are over 150 millionaires in the city in total.

The latest information however says that the number of companies worth millions in Zivinice increased to 117 in 2023. At the same time, many of these companies improved their results – some by several million, and some by tens of millions of marks.

The total income of these companies, therefore, increased significantly, as well as the number of those that exceeded the mentioned amount in income.

One can conclude that the number of millionaires in Zivinice probably increased last year by a dozen citizens who joined the “millionaires’ club”.

This is not surprising, because the city is known for its business-friendly environment. For example, according to data from 2021, one can open a business in Zivinice in two hours, and get building and urban planning approval in three days. Therefore, it is no coincidence that a large number of domestic and foreign companies operate in the Ciljuge 2 industrial zone, among which are serious investors from Austria and Germany.

Additionally, the residents of this city are known as entrepreneurial and many of them are engaged in private business. Also, just driving through Zivinice shows that it is a city with good purchasing power, given the huge number of sales facilities that offer all kinds of goods.

When talking about “millionaires”, it should be noted that these are not just people who have a million marks on their bank accounts, but those whose total assets are worth over a million.

A company with an annual turnover of one million marks is not necessarily worth that much on the market. The value of the company also depends on other factors, such as assets, debts, profitability, etc. Likewise, a company with a smaller annual turnover can be worth over a million marks, if it is healthy and highly profitable. At the same time, it should be noted that some companies have several owners, meaning, several millionaires are behind them.