The Cities With the Most Millionaires – Dubai Comes 20th, Abu Dhabi 39th, Doha 44th, Riyadh 47th

Richie Rich’s town of residence Harveyville may not exist, but the world’s real-life millionaires are congregating in hotspots around the globe.

From the World’s Wealthiest Cities Report 2023 by Henley & Partners, Visual Capitalist Pallavi Rao maps out the top 20 metro areas around the world where the most millionaires live.

Which City Has the Most Millionaires?

Heading the list, New York City boasts of an astonishing 340,000 millionaire residents, accounting for approximately 4% of the city’s total population. New York’s status as a global financial hub attracts millions seeking high-paying jobs, while those with lucrative careers are naturally drawn to the city.

Here’s the full ranking of cities with the most millionaires.

Rank	City/Area	Country	HNWIs ($1M+)
1	New York City	🇺🇸 USA	340,000
2	Tokyo	🇯🇵 Japan	290,300
3	The Bay Area	🇺🇸 USA	285,000
4	London	🇬🇧 UK	258,000
5	Singapore	🇸🇬 Singapore	240,100
6	Los Angeles	🇺🇸 USA	205,400
7	Hong Kong	🇭🇰 Hong Kong SAR	129,500
8	Beijing	🇨🇳 China	128,200
9	Shanghai	🇨🇳 China	127,200
10	Sydney	🇦🇺 Australia	126,900
11	Chicago	🇺🇸 USA	124,000
12	Toronto	🇨🇦 Canada	105,200
13	Frankfurt	🇩🇪 Germany	102,200
14	Zurich	🇨🇭 Switzerland	99,300
15	Houston	🇺🇸 USA	98,500
16	Seoul	🇰🇷 South Korea	97,000
17	Melbourne	🇦🇺 Australia	96,000
18	Paris	🇫🇷 France	93,000
19	Geneva	🇨🇭 Switzerland	85,800
20	Dubai	🇦🇪 UAE	68,400
21	Mumbai	🇮🇳 India	59,400
22	Rome	🇮🇹 Italy	56,500
23	Seattle	🇺🇸 USA	50,500
24	Shenzhen	🇨🇳 China	45,700
25	Osaka	🇯🇵 Japan	44,900
26	Boston	🇺🇸 USA	41,700
27	Kyoto	🇯🇵 Japan	40,400
28	Miami	🇺🇸 USA	38,000
29	Vancouver	🇨🇦 Canada	37,300
30	Tel Aviv	🇮🇱 Israel	35,600
31	Moscow	🇷🇺 Russia	35,200
32	Perth	🇦🇺 Australia	33,900
33	Brisbane	🇦🇺 Australia	31,900
34	Austin	🇺🇸 USA	30,500
35	Hangzhou	🇨🇳 China	30,400
36	Delhi	🇮🇳 India	30,200
37	Madrid	🇪🇸 Spain	29,000
38	Auckland	🇳🇿 New Zealand	24,500
39	Abu Dhabi	🇦🇪 UAE	24,200
40	Manchester	🇬🇧 UK	24,200
41	Nice	🇫🇷 France	23,900
42	Guangzhou	🇨🇳 China	23,500
43	Athens	🇬🇷 Greece	23,100
44	Doha	🇶🇦 Qatar	21,500
45	Lisbon	🇵🇹 Portugal	20,800
46	Dublin	🇮🇪 Ireland	18,400
47	Riyadh	🇸🇦 Saudi Arabia	18,100
48	Montreal	🇨🇦 Canada	17,900
49	Monaco	🇲🇨 Monaco	17,600
50	Las Vegas	🇺🇸 USA	16,800
51	Istanbul	🇹🇷 Türkiye	16,300
52	Warsaw	🇵🇱 Poland	15,100
53	Jerusalem	🇮🇱 Israel	15,100
54	San Diego	🇺🇸 USA	14,700
55	Calgary	🇨🇦 Canada	14,700
56	Johannesburg	🇿🇦 South Africa	14,600
57	Scottsdale	🇺🇸 USA	13,900
58	Barcelona	🇪🇸 Spain	13,300
59	Milan	🇮🇹 Italy	12,600
60	Bengaluru	🇮🇳 India	12,600
61	Edinburgh	🇬🇧 UK	12,400
62	Santa Barbara & Montecito	🇺🇸 USA	12,300
63	Kolkata	🇮🇳 India	12,100
64	Greenwich & Darien	🇺🇸 USA	11,900
65	Hyderabad	🇮🇳 India	11,100
66	West Palm Beach	🇺🇸 USA	9,400
67	Ho Chi Minh City	🇻🇳 Vietnam	7,700
68	Florence	🇮🇹 Italy	7,500
69	Cairo	🇪🇬 Egypt	7,400
70	Cape Town	🇿🇦 South Africa	7,200
71	St. Petersburg	🇷🇺 Russia	6,900
72	Lagos	🇳🇬 Nigeria	5,400
73	Budapest	🇭🇺 Hungary	5,300
74	Nairobi	🇰🇪 Kenya	4,700
75	Netanya	🇮🇱 Israel	4,300
76	Herzliya	🇮🇱 Israel	3,900
77	Sharjah	🇦🇪 UAE	3,800
78	Durban	🇿🇦 South Africa	3,600
79	Cape Winelands	🇿🇦 South Africa	3,400
80	Garden Route	🇿🇦 South Africa	3,000
81	Casablanca	🇲🇦 Morocco	2,800
82	Pretoria	🇿🇦 South Africa	2,400
83	Accra	🇬🇭 Ghana	2,000
84	Luanda	🇦🇴 Angola	1,800
85	Dar Es Salaam	🇹🇿 Tanzania	1,400
86	Whale Coast	🇿🇦 South Africa	1,100
87	Windhoek	🇳🇦 Namibia	1,100
88	Marrakech	🇲🇦 Morocco	900
89	Addis Ababa	🇪🇹 Ethiopia	800
90	Kigali	🇷🇼 Rwanda	800
91	Maputo	🇲🇿 Mozambique	800
92	Mombasa	🇰🇪 Kenya	700
93	Tangier	🇲🇦 Morocco	700
94	Lusaka	🇿🇲 Zambia	600
95	Swakopmund	🇳🇦 Namibia	300
96	Walvis Bay	🇳🇦 Namibia	300

In the second spot, Tokyo is home to a substantial millionaire population of 290,000, closely followed by the Bay Area—San Francisco and Silicon Valley—with 285,000 high net worth individuals (HNWIs) possessing an investable wealth of $1 million or more.

Other major financial centres—London (4th), Singapore (5th), Hong Kong (7th)—take up the middle spots in the top 10, joined by China’s commerce juggernauts, Beijing (8th) and Shanghai (9th).

One notable entry to the list is Sydney, which surprisingly holds the 10th position, with more than 100,000 millionaires. Alongside Melbourne (17th), Australia has increasingly become a destination for millionaire migrations. This trend is driven by factors such as high livability ratings, access to Asian markets, and no inheritance tax in the country.

Where Have Millionaire Populations Boomed?

The world has gotten significantly richer in the last decade, both at a per capita level, as well as by the rising number of millionaires. Between 2010–2020 for example, the number of millionaires increased by nearly 65%.

Here’s a look at the cities which have seen the biggest change in their millionaire population between 2012–2022.

Rank	City/Area	Country	HNWI growth % (2012 to 2022)
1	Hangzhou	🇨🇳 China	+105%
2	Austin	🇺🇸 USA	+102%
3	Shenzhen	🇨🇳 China	+98%
4	West Palm Beach	🇺🇸 USA	+90%
5	Scottsdale	🇺🇸 USA	+88%
6	Bengaluru	🇮🇳 India	+88%
7	Guangzhou	🇨🇳 China	+86%
8	Sharjah	🇦🇪 UAE	+84%
9	Ho Chi Minh City	🇻🇳 Vietnam	+82%
10	Hyderabad	🇮🇳 India	+78%
11	Miami	🇺🇸 USA	+75%
12	Shanghai	🇨🇳 China	+72%
13	Greenwich & Darien	🇺🇸 USA	+72%
14	Kigali	🇷🇼 Rwanda	+72%
15	Beijing	🇨🇳 China	+70%
16	Delhi	🇮🇳 India	+70%
17	Abu Dhabi	🇦🇪 UAE	+70%
18	The Bay Area	🇺🇸 USA	+68%
19	Seattle	🇺🇸 USA	+68%
20	Houston	🇺🇸 USA	+65%
21	Mumbai	🇮🇳 India	+65%
22	Santa Barbara & Montecito	🇺🇸 USA	+65%
23	Herzliya	🇮🇱 Israel	+65%
24	Dubai	🇦🇪 UAE	+62%
25	Kolkata	🇮🇳 India	+60%
26	San Diego	🇺🇸 USA	+58%
27	Netanya	🇮🇱 Israel	+56%
28	Las Vegas	🇺🇸 USA	+55%
29	Marrakech	🇲🇦 Morocco	+55%
30	Warsaw	🇵🇱 Poland	+54%
31	Dublin	🇮🇪 Ireland	+52%
32	Tel Aviv	🇮🇱 Israel	+51%
33	Boston	🇺🇸 USA	+50%
34	Monaco	🇲🇨 Monaco	+50%
35	Calgary	🇨🇦 Canada	+48%
36	Vancouver	🇨🇦 Canada	+44%
37	Auckland	🇳🇿 New Zealand	+43%
38	Melbourne	🇦🇺 Australia	+42%
39	New York City	🇺🇸 USA	+40%
40	Singapore	🇸🇬 Singapore	+40%
41	Geneva	🇨🇭 Switzerland	+40%
42	Brisbane	🇦🇺 Australia	+37%
43	Jerusalem	🇮🇱 Israel	+37%
44	Los Angeles	🇺🇸 USA	+35%
45	Sydney	🇦🇺 Australia	+35%
46	Zurich	🇨🇭 Switzerland	+35%
47	Mombasa	🇰🇪 Kenya	+35%
48	Tangier	🇲🇦 Morocco	+33%
49	Perth	🇦🇺 Australia	+32%
50	Budapest	🇭🇺 Hungary	+32%
51	Seoul	🇰🇷 South Korea	+30%
52	Nairobi	🇰🇪 Kenya	+30%
53	Toronto	🇨🇦 Canada	+29%
54	Casablanca	🇲🇦 Morocco	+28%
55	Lisbon	🇵🇹 Portugal	+25%
56	Whale Coast	🇿🇦 South Africa	+25%
57	Swakopmund	🇳🇦 Namibia	+25%
58	Chicago	🇺🇸 USA	+24%
59	Accra	🇬🇭 Ghana	+24%
60	Addis Ababa	🇪🇹 Ethiopia	+23%
61	Garden Route	🇿🇦 South Africa	+22%
62	Lusaka	🇿🇲 Zambia	+22%
63	Walvis Bay	🇳🇦 Namibia	+22%
64	Montreal	🇨🇦 Canada	+21%
65	Frankfurt	🇩🇪 Germany	+20%
66	Dar Es Salaam	🇹🇿 Tanzania	+20%
67	Cape Winelands	🇿🇦 South Africa	+18%
68	Maputo	🇲🇿 Mozambique	+18%
69	Windhoek	🇳🇦 Namibia	+16%
70	Cape Town	🇿🇦 South Africa	+10%
71	Riyadh	🇸🇦 Saudi Arabia	+9%
72	Florence	🇮🇹 Italy	+8%
73	Nice	🇫🇷 France	+7%
74	Kyoto	🇯🇵 Japan	+5%
75	Manchester	🇬🇧 UK	+5%
76	Osaka	🇯🇵 Japan	-2%
77	Paris	🇫🇷 France	-3%
78	Athens	🇬🇷 Greece	-3%
79	Tokyo	🇯🇵 Japan	-5%
80	Doha	🇶🇦 Qatar	-6%
81	Durban	🇿🇦 South Africa	-6%
82	Rome	🇮🇹 Italy	-7%
83	Barcelona	🇪🇸 Spain	-7%
84	Madrid	🇪🇸 Spain	-9%
85	Milan	🇮🇹 Italy	-10%
86	Edinburgh	🇬🇧 UK	-12%
87	London	🇬🇧 UK	-15%
88	Cairo	🇪🇬 Egypt	-25%
89	Hong Kong	🇭🇰 Hong Kong (SAR China)	-27%
90	Luanda	🇦🇴 Angola	-28%
91	Lagos	🇳🇬 Nigeria	-30%
92	Istanbul	🇹🇷 Türkiye	-35%
93	Pretoria	🇿🇦 South Africa	-35%
94	St. Petersburg	🇷🇺 Russia	-38%
95	Johannesburg	🇿🇦 South Africa	-40%
96	Moscow	🇷🇺 Russia	-44%

In the past decade, Hangzhou, China and Austin, Texas, more than a doubled their wealthy residents. This trend places them at the top of the rankings for millionaire population growth, which is largely dominated by cities in China and the U.S., reflecting the economic strength of these two countries.

By way of comparison, at the beginning of the 21st century, the United States and Japan had a similar count of millionaires. However, the U.S. sustained its millionaire population growth, whereas China surpassed Japan in economic size in 2010 and, subsequently, in the number of millionaires in 2014.

Other emerging economic giants in the 2010s—India and Vietnam—have also seen millionaire growth in the cities of Bengaluru (88%), Hyderabad (78%), and Ho Chi Minh City (82%).

On the other hand, Moscow and St. Petersburg lost around 40% of their millionaire residents in the same timeframe, with the sanctions against the country playing a key role deteriorating their wealth as well as causing an exodus of residents.

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