![]() ![]() “The right to live, work, study, and invest in leading international wealth hubs such as New York, London, Singapore, Sydney, and Hong Kong can be secured via residence by investment. Juerg Steffen, CEO of Henley & Partners, says 7 of the Top 10 wealthiest cities in the world are in countries that host formal investment migration programs and actively encourage foreign direct investment in return for residence or citizenship rights. Beijing and Shanghai have both climbed the rankings over the past decade, but Hong Kong has taken a tumble, dropping from 4 th place in 2012 down to 7 th place currently.ĭr. Home to some of the world’s most exclusive residential suburbs, Sydney has experienced especially strong wealth growth over the past 20 years and is projected to break into the global Top 5 wealthiest cities by 2040.Īsia Pacific cities gain ground over past decadeĬhina has three cities in the Top 10, with Hong Kong (129,500 millionaires), Beijing (128,200), and Shanghai (127,200) taking 7 th, 8 th, and 9 th places, respectively. City-state Singapore, widely regarded as the most business-friendly city in the world and one of the top destinations for migrating millionaires, sits in 5 th place with 240,100 resident millionaires, while Sydney comes in 10 th place with 126,900 millionaires. Tokyo, which led the pack ten years ago, falls to 2 nd place with 290,300 millionaires, and London, the wealthiest city in the world for many years, drops down to 4 th place with 258,000 resident HNWIs. New York City wears the crown as the wealthiest in the world with 340,000 millionaires, while two other American wealth hubs - the San Francisco Bay Area and Los Angeles - come in 3 rd and 6 th places, with 285,000 and 205,400 resident high-net-worth individuals, respectively (note: HNWIs are defined as those with investable wealth of over USD 1 million and all figures are rounded off to the nearest 100). When it comes to the number of resident millionaires, cities in the USA and China dominate the World’s Top 10 Wealthiest Cities, while only one European city, namely London, makes it onto the 2023 list published today by international investment migration firm Henley & Partners in partnership with global wealth intelligence firm New World Wealth.
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