The World’s Wealthiest Cities in 2022
Henley & Partners
The Q3 Henley Global Citizens Report released today by leading international residence and citizenship by investment advisory firm Henley & Partners features exclusive data from the global wealth intelligence firm New World Wealth, and reveals the world’s 20 wealthiest cities with the most resident millionaires (namely, individuals with wealth of USD 1 million or more), as well as the five wealthiest cities in each major region, and the 25 fastest growing cities in the world in terms of millionaire growth in the six months to 30 June 2022 (year-to-date).
According to the latest Henley Global Citizens Report, which tracks private wealth and investment migration trends worldwide, 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 (HNWIs) 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 resident millionaires.
Two Chinese cities, Beijing (9th) and Shanghai (10th), make it into the Top 10, and Switzerland and Australia each manage to secure two Top 20 city spots, with Sydney (11th), Zurich (15th), Melbourne (17th), and Geneva (19th) all making the cut. City-state Singapore (5th), Hong Kong (SAR China) (12th), Frankfurt (13th), Toronto (14th), Seoul (16th), and finally Paris — dropping three places since last year and now in 20th position — make up the rest of the 2022 ranking. Houston is the biggest climber, rising four places since 2021, and Hong Kong is the biggest faller, losing four places since last year, when it ranked 8th.
Investment migration programs provide access to wealth hubs in multiple jurisdictions
Dr. Juerg Steffen, CEO of Henley & Partners, points out that 14 of the Top 20 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. He highlights that the right to live, work, study, and invest in leading international wealth hubs such as New York, London, Singapore, Sydney, and Toronto can be secured via residence by investment. Dr. Steffen emphasizes that individuals of talent and means should not limit their lives and business interests to one country. 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 Henley Global Citizens Report also features regional insights by investment migration and private wealth industry leaders representing seven key markets: the Americas, Europe and the UK, Africa, the Middle East, East Asia, South Asia, and Southeast Asia and Oceania.
Read the full press release here.