A recent report by Henley & Partners, a London-based consultancy, has revealed that in 2023, New York City has secured the top position as the world’s wealthiest city. Tokyo, Japan, and Silicon Valley’s Bay Area have claimed the second and third spots respectively. It’s noteworthy that Mumbai has been ranked 21st while Delhi, Bengaluru, Kolkata, and Hyderabad were mentioned in the report.
The rankings were based on the number of resident millionaires, rounded off to the nearest 100, as of December 31, 2022. Interestingly, the top 10 cities are dominated by those in the United States and China, with only London representing Europe.
The report also recognized Bengaluru as one of the Asia Pacific’s fastest-growing cities, commonly known as the “Garden City” and the “Silicon Valley of India” due to its thriving technology sector.
New York Becomes The World’s Wealthiest City 2023 – List Of 15 Ranked Cities & Their Net Worth
The World’s Wealthiest Cities Report 2023 was compiled by Henley & Partners, covering 97 cities globally. The report relied on data from New World Wealth, a wealth intelligence firm that monitors the financial activities of high-net-worth individuals holding positions such as Founder, Chairperson, CEO, and Director. Additionally, the report considered the number of luxury homes in each city, as mentioned on the Henley & Partners website.
New York City, United States – 340,000
Tokyo, Japan – 290,300
The Bay Area, United States – 285,000
London, United Kingdom – 258,000
Singapore, Singapore – 240,100
Los Angeles, United States – 205,400
Hong Kong, SAR China – 129,500
Beijing, China – 128,200
Shanghai, China – 127,200
Sydney, Australia – 126,900
Chicago, United States – 124,000
Toronto, Canada – 105,200
Frankfurt, Germany – 102,200
Zurich, Switzerland – 99,300
Houston, United States – 98,500
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