Millionaires' choice: 10 richest cities in the world to live in 2023
The top 10 cities in the world with the largest number of rich people include three from the United States and three from China. The other four cities are located in other countries. New York (USA) took the first place in the ranking.
Traveling Lifestyle writes about it, referring to the New World Wealth study. Analysts have studied 97 cities around the world, ranking them based on the purchasing habits of more than 150 thousand wealthy people. Particular attention was paid to those with more than $10 million in investment assets. Many of the cities in the ranking offer good conditions for large investments, benefiting millionaires and billionaires.
TOP 10 richest cities in the world 2023
10. Sydney (Australia)
The city has 126,900 millionaires, 184 centi-millionaires (owners of fortunes of 100 million) and 15 billionaires. Sydney is home to some of the most exclusive residential areas in the world, including Bellevue Hill, Darling Point, Mosman, Point Piper, and Vauxhall, with an average house price of $1.3 million.
9. Shanghai (China)
Shanghai shows the fastest growth in the number of rich people among all cities. Their number increased by 72% from 2012 to 2022. The city is home to 40 billionaires, 332 centi-millionaires, and 127,200 millionaires. Shanghai is known as the financial center of China.
8. Beijing (China)
The capital of China boasts 43 billionaires, 128,200 millionaires, and 354 centi-millionaires. According to a study, the number of rich people in Beijing has increased by 70% in 10 years. Beijing is the headquarters of many global giants, such as ByteDance, the parent company of TikTok, and Bank of China, one of the largest banks in the world.
7. Hong Kong (China)
Hong Kong came in at number seven on the list, mainly because it is home to many of Asia's richest people. There are 32 billionaires, 290 centi-millionaires, and 129,500 millionaires in Hong Kong. In addition, according to the British real estate company Savills, Hong Kong ranks second in the world in terms of real estate market cost with an average price of 40,000 euros per square meter.
6. Los Angeles
Los Angeles is considered the center of the global entertainment industry. It is home to 205 thousand millionaires, 480 centi-millionaires and 42 billionaires. The number of wealthy people in the city has increased by 35% over the past decade. Prestigious neighborhoods such as Beverly Hills and Malibu benefit from this wealth. Malibu is even home to one of the most luxurious homes in the world, a 2.5-acre beachfront mansion that sells for $115 million.
The Republic of Singapore, home to 240,100 millionaires, 329 centi-millionaires and 27 billionaires, is ranked fifth on the list. Singapore has seen a significant increase in the number of wealthy people since 2012, which is 40%. In 2022 alone, about 2,900 wealthy people decided to move there. Singapore is considered attractive to wealthy migrants because it has low tax rates, low crime, and a pleasant tropical climate.
4. London (UK)
The British capital is home to 258,000 millionaires, 384 centi-millionaires, and 36 billionaires. It is home to some of the most expensive real estate in the world. Housing prices in the prestigious Kensington neighborhood start at least $14 million. London's favorable location provides easy access to most European countries, making it a convenient place for weekend trips to Paris, Brussels, Ibiza and other popular destinations. London also offers some of the best shopping in the world, which adds to the city's appeal.
3. San Francisco Bay (USA, California)
The area includes San Francisco and Silicon Valley and is home to 285,000 millionaires, as well as 629 centi-millionaires and 63 billionaires. It is a center of technology. Between 2012 and 2022, the number of wealthy people in the Bay Area increased by 68%. Los Altos, the second richest city in the United States that is located on the western border of Silicon Valley, is notable. The typical household income here is $235,278.
2. Tokyo (Japan)
The Japanese capital accounts for 21% of the country's total millionaires. According to the report, Tokyo boasts 290,300 millionaires, 250 centi-millionaires, and 14 billionaires. In addition, the city is the economic center of Japan and is the base for world-famous companies such as Honda and Sony.
1. New York (USA)
New York is the richest metropolis on the planet. The city is home to 58 billionaires, 724 centi-millionaires, and 340,000 people with assets of more than $1 million. In addition to extravagant real estate, which includes an $85 million penthouse in midtown Manhattan, New York is also known for some of the most expensive restaurants in the world, so the rich have many opportunities to pamper themselves. The number of wealthy people here has increased by 40% since 2012, which helped the city to take first place on the list.
As OBOZREVATEL reported earlier, the 10 best cities for remote work were named. It is in these places that working from home allows you to combine business activities with comfortable travel and recreation in the best possible way.