Bengaluru Ranks In The Most Millionaire's List; New York Ranks First

Bengaluru Ranks In The Most Millionaire's List; New York Ranks First

Henley and Partners announced the Top 10 Richest Cities in the World and Up-and-Coming Wealth Hubs. Bengaluru, a city in India, makes its way onto the list. With nearly 350,000 millionaires, New York has the highest number of millionaires of any city and has increased by 48% in the last decade.

Manasi KambleUpdated: Wednesday, May 08, 2024, 04:26 PM IST
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(L-R) New York City and Bengaluru City | Representative Image

Henley & Partners is a company that specializes in residence and citizenship by investment. Annually, they conduct a survey to determine the global cities with the highest number of millionaires. Despite the constantly changing global economic environment, certain cities remain powerhouses of success that attract wealthy investors due to the numerous opportunities they provide.

Indian City Emerges Into Wealth Hub List

Henley and Partners recently released a list of the world's top 10 wealthiest cities and rising wealth hubs. Bengaluru, an Indian city in the state of Karnataka, is among the cities that were ranked. The list was based on "high-net-worth individuals (HNWIs) with liquid investable wealth of USD 1 million or more".

Henley and Partners Top 10 Wealth Hub Cities In the World

According to the survey conducted by the residents and

1. New York (USA)

2. Tokyo (Japan)

3. The Bay Area (USA)

4. London (UK)

5. Singapore (Singapore)

6. Los Angeles (USA)

7. Hong Kong (Hong Kong (SAR China)

8. Beijing (China)

9. Shanghai (China)

10. Sydney (Australia)

Statement By Henley and Partners

According to Henley and Partners,"Bengaluru is booming with 13,200 HNWIs. One of the fastest-growing cities in the world for millionaires, Bengaluru is known as the 'Garden City' and the 'Silicon Valley of India'. It has a booming tech sector and is the base city for global tech giants Infosys and Wipro."

The list also includes other metropolitan cities of India, namely Mumbai and Delhi. Other cities where millionaire population has more than doubled in the past 10 years are- Bengaluru, Vietnam's Ho Chi Minh City and Scottsdale, Arizona in the US. In the Middle East, Dubai is the richest city- ranking No. 21 globally. As per wealth per capita, Monaco ranks No. 1 in the world, with more than 40% of its residents being millionaires. New York City is second.

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