Cities are emerging as centres for wealth accumulation, driven by booming economies, technological advancements, and attractive business environments. The ability to travel visa-free or relocate businesses to more favourable cities has become crucial for affluent individuals in their wealth and legacy planning. Increasingly, global investors are using investment migration to access and operate across a range of wealth hubs worldwide.
The rapid growth of millionaire populations in these cities highlights shifting global wealth distribution dynamics. Technological innovation, strategic investments, and favourable business climates are propelling new economic hubs. As these cities develop, they offer lucrative opportunities for investors and entrepreneurs.
Understanding these trends is essential for navigating the evolving global economy. Read also: Top 10 African countries with highest number of millionaires The cities listed exemplify the potential for rapid economic growth and wealth accumulation in today’s interconnected world. According to the Henley Global Mobility Report 2024 July, here are the top 10 cities with the fastest-growing millionaire populations Shenzhen, a city in southeastern China, leads with 140% growth in its millionaire population, now totalling 50,300.
Once a modest fishing village, Shenzhen has transformed into a global tech hub, home to giants like Huawei and Tencent. The city’s location near Hong Kong and its favourable policies for innovation and.