A report by Henley & Partners and New World Wealth has identified the top 10 wealthiest cities in the world for 2024. These cities attract ultra-wealthy individuals due to their big corporations, high-end real estate, and other factors that contribute to their prosperity.
New York City remains the wealthiest city in the world, with 11 other US cities also making it to the top 50 list. However, Tokyo has fallen to third place due to a decline in its high-net-worth individual population.
Singapore has experienced significant growth and climbed to fourth place on the list, thanks to an impressive increase in its millionaire population. Dubai has emerged as the wealthiest city in the Middle East, ranking 21st in the top 50 list. London has experienced a decline in ranking, moving down to fifth place, while Los Angeles has risen to sixth place with substantial growth in its wealthy population.
India has also made progress, with Mumbai and Delhi breaking into the top 50 list at 24th and 37th place, respectively. This indicates a growing presence of wealthy individuals in the country. The top 10 wealthiest cities in the world provide a glimpse into the global landscape of wealth and prosperity.
The report highlights how these cities have become hubs for business and investment, attracting billionaires from all over the world who seek to take advantage of their thriving economies and high standards of living.
As such, these cities have become important players on the global stage, shaping economic policies and driving innovation across various sectors such as technology, finance, and real estate.
Overall, this report underscores how wealth is increasingly becoming concentrated in just a few key cities around the world, highlighting both opportunities and challenges for policymakers looking to promote sustainable growth and address inequality issues.
