Within the ever-changing global economic environment, some cities continue to be powerhouses of success, attracting wealthy investors who want to live within its boundaries due to the ample amount of opportunities provided. Henley and Partners, a residence and citizenship planning leader, recently released a list announcing the World's Wealthiest Top 10 cities and Rising Wealth Hubs. An Indian city has also been ranked on this list. The list has been ranked with "high-net-worth individuals (HNWIs) with liquid investable wealth of USD 1 million or more".
The city named on the list is Bengaluru. According to Henley and Partners, "Bengaluru is booming with 13,200 HNWIs. One of the fastest-growing cities in the world for millionaires, Bengaluru is known as the 'Garden City' and the 'Silicon Valley of India'. It has a booming tech sector and is the base city for global tech giants Infosys and Wipro." (Also Read: Who is Sudha Reddy, Indian billionaire who wore over 200 carats of diamonds at Met Gala 2024?)
The top 10 cities that ranked in the list are:
1. New York
Some of the most upscale residential avenues in the world can be found in the city, such as Manhattan's 5th Avenue, where the cost of a top apartment can approach USD 28,000 per square meter. Both of the biggest stock exchanges in the world in terms of market capitalisation are located in New York City.
2. The Bay Area tech hub
Many of the world's top companies, such as Airbnb, Alphabet, Apple, Intel, Meta, Netflix, Nvidia, and Uber, are based in the area. It also includes affluent towns like Atherton, Los Altos Hills, and Palo Alto.
3. Tokyo
This city is the base for a base for corporate giants like Hitachi, Mitsubishi, and Sony. However, Henley and Partners report "that a relatively low number of billionaires live in Tokyo when compared to the other cities in the Top 10."
4. Singapore
This place is known to be business-friendly. Singapore is also the world's fastest-growing family office hub.
5. London
Two decades ago, London was seen as the hub for millionaires and billionaires; however, due to the "combination of poor wealth growth in dollar terms and outward wealth migration", the number has slipped down.
6. Los Angeles
Also dubbed as the world's entertainment hub, it includes a wealth of Beverly Hills, Laguna Beach, Malibu, and Newport Beach. Some of the biggest companies can also be found there.
7. Paris
Paris is home to many of Europe's wealthiest entrepreneurs in mainland Europe. It is also home to companies like LVMH and BNP Paribas. Henley and Partners report that after "UK'sthe exit from the EU, Paris is well positioned to become Europe's top financial centre".
8. Sydney
In the last 20 years, Sydney has witnessed significant growth. As per Henley and Partners, "it traditionally attracts over 1,500 millionaires per year via migration and is home to some of the world's most affluent suburbs including Bellevue Hill, Point Piper, Mosman, and Vaucluse".
9. Hong Kong
This place has some of the wealthiest business leaders. The Hong Kong stock market also remains one of the world's top 10 exchanges.
10. Beijing
Beijing, in particular, has a large number of billionaires. It is also home to the largest corporations.