Cover New York City sits at number 1 on the World’s Wealthiest Cities Report 2023 (Photo: Getty Images)
New York City sits at number 1 on the World’s Wealthiest Cities Report 2023 (Photo: Getty Images)
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Singapore takes the fifth spot for the second year running, with 240,100 resident millionaires. New York City holds the top spot, with Tokyo and London following closely behind
Investment migration consultancy Henley & Partners has released the World’s Wealthiest Cities Report for 2023. The annual publication ranks the world’s wealthiest and fastest-growing cities. Data is also accompanied by global and real estate insights.
This year, we see New York City securing the top spot as the wealthiest in the world, boasting 340,000 high-net-worth individuals in 2022. Two other United States wealth hubs have also been ranked in the top 10—San Francisco Bay Area with 285,000 high-net-worth individuals, and Los Angeles with 205,400 individuals.
While Tokyo has placed number one for the past 10 years, this year we see the city falling to second place with 290,300 millionaires. London has also dropped to fourth place this year, with 258,000 high-net-worth residences.
Staying in fifth place, for the second year in a row, is Singapore with 240,100 resident millionaires, making our city the second wealthiest city in Asia. Singapore has also seen a whopping 40 per cent growth in high-net-worth individuals from 2012 to 2022.
Henley & Partners further noted that Singapore has been “widely regarded as the most business-friendly city in the world and one of the top destinations for migrating millionaires”.
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This year’s report also sees Hong Kong dropping from fourth to seventh place with 129,500 millionaires. Beijing (eighth) and Shanghai (ninth) have climbed the ranks with 128,200 millionaires and 127,200 millionaires respectively.
The World’s Wealthiest Cities Report 2023 1-10 is listed in full below.
1. New York City (340,000)
2. Tokyo (290,300)
3. San Francisco Bay Area (285,000)
4. London (258,000)
5. Singapore (240,100)
6. Los Angeles (205,400)
7. Hong Kong (129,500)
8. Beijing (128,200)
9. Shanghai (127,200)
10. Sydney (126,900)
Amanda Goh was the former senior writer for Tatler Singapore.
