- Shenzhen is China’s fastest growing wealth hub. The Asian city has 50,800 millionaires and centimillionaires. It also has 22 billionaires.
- Second place goes to a U.S. City that has seen 125 percent more millionaires in the past decade. Eight U.S. towns made the ranking.
- India, China and the U.S.A. all make up part of the top five.
Henley & Partners, a company helping people understand their options for residence and citizenship by investment released its World Wealthiest Cities Report. The report has been published in collaboration with global wealth intelligence provider New World WealthThe Global Wealth Migration Tracker is a tool that tracks the global wealth movement.
With all of its combined data, the two companies created several lists, including the most expensive cities in the world and the wealthiest cities in the world. It also identified which destination is the fastest-growing wealth hub on the planet—and that honor went to Shenzhen, China.
Andrew Amoils is the head of New World Wealth’s research. He explained that Shenzhen has seen a particularly strong growth in wealth over the last 20 years. It’s now arguably the leader in key tech subsectors such as computer hardware, electric cars, Wi-Fi dongles for mobile phones, flying robots, 5G and electronics.
The report shows that there are 17 million residents in the city of southeastern China, including 22 millionaires, 156 centimillionaires and more than 50,000 millionaires.
Shenzhen, however, is not the only city that has made waves. Scottsdale, Arizona was ranked as the No. The second fastest growing hub in the entire world is Scottsdale, Arizona. In the last decade, there was a growth of 125 percent in the number of millionaires. There are now 14,800 millionaires in the city, as well as 64 centimillionaires and five billionaires. Scottsdale had a record-breaking year in 2016. recognized as the best golf city There are 53 golf clubs in America.
In third place, Bengaluru in India is followed by West Palm Beach in Florida and Hangzhou, China.
“Three other American cities—Miami, whose residents enjoy Florida’s low state taxes, Washington D.C., and Austin, Texas, dubbed ‘Silicon Hills’ have also seen notably high growth between 2014 and 2024,” the findings showed, showcasing that the U.S. still has what it takes to be on the global wealth stage.
View the full findings at henleyglobal.com.
