#USA #New York #Dubai #Wealthiest Cities

The Richest Cities in the World for 2025

As we step into 2025, the landscape of wealth continues to shift dramatically around the globe. The World's Wealthiest Cities Report 2025, published by Henley & Partners and New World Wealth, highlights the dominance of US cities, particularly in the realm of millionaire populations. The report emphasizes how the rich are getting richer, and specific cities have emerged as the hubs of wealth accumulation.

United States: Leading the Way

At the forefront is New York City, hosting an impressive 384,500 high-net-worth individuals (HNWIs), which includes 818 centimillionaires and 66 billionaires. New York remains unchallenged as the world’s wealth capital. Following closely is the San Francisco Bay Area, housing 342,400 millionaires and boasting technological innovation as a strong driver of wealth creation. Interestingly, the Bay Area has seen the highest growth rate of multimillionaires, growing by 98% over the past decade.

Among the top fifty cities, the only cities to have outpaced the Bay Area in growth are Shenzhen, Hangzhou, and Dubai. Shenzhen made it to the 28th position with a staggering 142% growth rate of millionaires, while Hangzhou landed at 35th with 108%, and Dubai marked its ascent to 18th place, growing by 102%. Notably, 82 billionaires now reside in Dubai, demonstrating the city’s allure as a global destination for the wealthy.

Notable Trends and Declines

While US cities thrive, some longstanding affluent cities have suffered setbacks. London has fallen to sixth place with 215,700 millionaires, marking its exit from the top five for the first time. The capital has lost 12% of its millionaire population over the last decade. While Los Angeles has enjoyed a surge in millionaires, surpassing London with 220,600, Moscow trails behind in 40th place, with 30,000 millionaires and a notable decline of 25% in millionaire numbers since 2014.

In stark contrast, Tokyo retains its rank as the third richest city with 292,300 millionaires. Its robust economy and resilient infrastructure contribute to its sustained wealth. Singapore follows in fourth with 242,400 millionaires, showcasing its status as a financial hub in Asia.

Rising Stars and Fast Growth Centers

As wealth patterns evolve, cities like Scottsdale and West Palm Beach in the US have recorded notable growth rates, both exceeding 100% in millionaire populations since 2014. Furthermore, cities in India, such as Bengaluru and Delhi, are expected to see explosive growth in both millionaires and centimillionaires over the next decade.

The report even identifies cities such as Lisbon, making its debut in the top 50 with 22,200 millionaires, and Auckland, which has seen a decline, highlighting the dynamic nature of global wealth distributions.

The Future of Wealth

The projected growth in the global wealth market shows that cities like Dubai and Abu Dhabi will be pivotal in doubling their millionaire population by 2035. Cities such as Warsaw and Athens are also on the rise, with tenfold increases expected in their centimillionaire populations through targeted investment migration pathways.

Interestingly, smaller cities like George Town in the Cayman Islands and Riga in Latvia stand on the verge of remarkable growth, hinting at new wealth hotspots emerging outside the conventional major cities.

Lastly, a closer look at luxury markets reveals Monaco as the most expensive city globally, with high-end apartments reaching astonishing prices reflective of the burgeoning demand for luxury real estate.

Conclusion

In conclusion, as economies evolve, the wealth landscape in 2025 paints a picture of both challenge and opportunity. The shifts in millionaire populations across cities are telling of broader economic trends and the increasing mobility of wealth. From established cities like New York to emerging centers like Dubai, the future of wealth looks bright and ever-changing.