PR97804

LONDON, Sept. 13, 2022 /PRNewswire=KYODO JBN/ --

The USA dominates the world's Top 20 Cities with the Most Millionaires in 2022,

with New York taking the crown with 345,600 millionaires, and five other

American cities -- San Francisco, Los Angeles, Chicago, Houston, and Dallas --

securing places on the coveted world's wealthiest cities ranking. Tokyo is in

2nd place with 304,900 resident high-net-worth individuals worth over USD 1

million, and London, the wealthiest city in the world for many years, drops to

4th place below the San Francisco Bay Area with just 272,400 millionaires,

according to the latest Henley Global Citizens Report [

https://www.henleyglobal.com/publications/henley-global-citizens-report/2022-q3

], which tracks private wealth migration trends worldwide.

Two Chinese cities, Beijing (9th) and Shanghai (10th), make it into the Top 10,

and Switzerland and Australia each manage to secure two top city spots, with

Sydney (11th), Zurich (15th), Melbourne (17th), and Geneva (19th) all making

the cut. Singapore (5th), Hong Kong (SAR China) (12th), Frankfurt (13th),

Toronto (14th), Seoul (16th), and finally Paris, plummeting 3 places to 20th,

make up the rest of the 2022 ranking.

The report features exclusive data from global wealth intelligence firm New

World Wealth [ https://newworldwealth.com/ ] , and includes the five wealthiest

cities in each major region, and the 25 fastest growing cities in terms of

millionaire growth.

Dr. Juerg Steffen [

https://www.henleyglobal.com/publications/henley-global-citizens-report/2022-q3/global-insights/secure-residency-worlds-wealthiest-cities-investment-migration

] , CEO of Henley & Partners  [ https://www.henleyglobal.com/ ], points out

that 14 of the Top 20 are in countries that host investment migration [

https://www.henleyglobal.com/countries ] programs." The right to live, work,

study, and invest in leading international wealth hubs such as New York [

https://www.henleyglobal.com/residence-investment/united-states ], London [

https://www.henleyglobal.com/residence-investment/united-kingdom ], Singapore [

https://www.henleyglobal.com/residence-investment/singapore ], Sydney [

https://www.henleyglobal.com/residence-investment/australia ], and Toronto [

https://www.henleyglobal.com/residence-investment/canada ] can be secured via

residence [ https://www.henleyglobal.com/residence-investment ] by investment .

Being able to relocate yourself, your family, or your business to a more

favorable city or have the option to choose between multiple different

residences across the world is an increasingly important aspect of

international wealth and legacy planning for private clients."

The millionaire populations of Dubai, Mumbai, and Shenzhen are expected to

break into the Top 20 wealthiest cities by 2030, according to Andrew Amoils [

https://www.henleyglobal.com/publications/publications/henley-global-citizens-report/2022-q3/global-insights/20-wealthiest-cities-world-2022

] , Head of Research at New World Wealth. "Cities with strong oil and gas

industries are performing especially well this year, including the likes of

Riyadh, Sharjah, Luanda, Abu Dhabi, Doha, and Lagos. Others on the

fastest-growing list include Lugano, a Swiss hotspot for affluent retirees,

Bengaluru, the 'Silicon Valley of India', and Hangzhou, one of China's most

scenic cities."

Commenting on the latest Henley Global Citizens Report, Dr. Jose Caballero [

https://www.henleyglobal.com/publications/henley-global-citizens-report/2022-q3/global-insights/how-smart-are-wealthiest-cities-uncovering-regional-strengths

], Senior Economist at the IMD World Competitiveness Center, says "quality of

life is a fundamental driver of global mobility, and for business executives,

high living standards and effective institutions are significant city

drawcards."

Dr. Steffen agrees, saying "cities are centers of opportunity, innovation,

prosperity, and culture. We've seen record growth this year, with more and more

high-net-worth investors exploring investment migration solutions [

https://www.henleyglobal.com/countries ] that offer location fluidity and

optionality, enabling them to live and conduct their businesses across a wide

range of different jurisdictions and cities."

Read the Full Press Release [

https://www.henleyglobal.com/newsroom/press-releases/henley-global-citizens-report-q3-2022

]

Source: Henley & Partners