New World Wealth has recently launched the list of wealthiest cities in the world as of 2023. The report analyzed high-net-worth individuals (HNWIs) with over $1 million in investable wealth.
The World’s Wealthiest Cities Report 2023 is published by international investment migration firm Henley & Partners in partnership with global wealth intelligence firm New World Wealth.
As per the report, New York has emerged as the wealthiest city in the world with 340000 millionaires and 58 billionaires.
#10. Sydney
Millionaires: 1,26,900
#9. Shanghai
Millionaires: 1,27,200
#8. Beijing
Millionaires: 1,28,200
#7. Hong Kong
Millionaires: 1,29,500
#6. Los Angeles
Millionaires: 2,05,400
#5. Singapore
Millionaires: 2,40,100
#4. London
Millionaires: 2,58,000
#3. The Bay Area (USA)
Millionaires: 2,85,000
#2. Tokyo
Millionaires: 2,90,300
#1. New York City
Millionaires: 3,40,000
This annual report is highly beneficial for the followers of private wealth and wealth migration trends, from high-net-worth investors and their advisors to industry professionals and policymakers looking to turn their cities into the wealth magnets of tomorrow.
Source: Henley & Partners
The World’s Wealthiest Cities Report 2023 covered 97 cities across the world that used data from wealth intelligence firm, New World Wealth. This firm forms a ranking by tracking the movements and spending habits of high-net-worth individuals with the work titles like Founder, Chairperson, CEO, and Director.
As per the report, Mumbai ranked #21 with 59,400 millionaires and 29 billionaires. Delhi ranked #36, Bengaluru ranked #60, Kolkata ranked #63, and Hyderabad ranked #65. Bengaluru was named one of the fastest-growing cities in the Asia Pacific.
