London-based investment migration consultancy Henley & Partners on Tuesday released the elite list of the world's richest cities of the world 2023. As per the World’s Wealthiest Cities Report 2023, New York City is the world’s top city with the most millionaires in 2023. Notably, the Lond-based firm reached the conclusion of the richest cities by the number of millionaires living in that particular area. As a result, the United States of America's New York City topped the chart 340,000 millionaires, 724 centi-millionaires, and 58 billionaires. New York City was followed by Japan's Tokyo which is at the second number in the World's wealthiest cities Report 2023 with 290,300 resident millionaires, 250 centi-millionaires, and 14 billionaires. Interestingly, there were no cities from European Union that were present in the elite list. Notably, the World's Wealthiest Cities Report was dominated by the US, Japan, and China. Below is the top 15 cities/country-wise that made its way into the list of the 2023 World's Wealthiest Cities Report-
City Country No. of High Net Worth Individuals
1) New York City United States 340,000
2) Tokyo Japan 290,300
3) The Bay Area United States 285,000
4)London United Kingdom 258,000
5) Singapore Singapore 240,100
6) Los Angeles United States 205,400
7)Hong Kong SAR China 129,500
8)Beijing China 128,200
9)Shanghai China 127,200
10)Sydney Australia 126,900
11)Chicago United States 124,000
12)Toronto Canada 105,200
13)Frankfurt Germany 102,200
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14)Zurich Switzerland 99,300
15)Houston United States 98,500
Where does India stand at the Worlc's Wealthiest Cities Report 2023?
Five Indian cities with more than 1.25 lakh millionaires also made its way into the elite list.
1. Mumbai- 59,400 millionaires
2. Delhi- 30,200 millionaires
3. Bengaluru- 12,600 millionaires
4. Kolkata- 12,100 millionaires
5. Hyderabad- 11,100 millionaires
As per the report, all figures are for December 31, 2022, and 'high networth individuals’ or ‘HNWIs’ refer to individuals with investable wealth of USD 1 million or more. and Includes only HNWIs living in each city (residents). 7 out of the World’s Top 10 cities listed are in countries that host formal investment migration programs and actively encourage foreign direct investment in return for residence or citizenship rights.