Latest news with #WealthiestCitiesReport2025
Indian Express
26-05-2025
- Business
- Indian Express
Top 10 fastest-growing wealth hubs in 2025: 3 Indian cities among global 20
Top 10 fastest growing wealth hubs in 2025: Do you know where most millionaires are likely to migrate in the coming years? While many high-net-worth individuals (HNWIs) presently reside in a few major cities, such as New York, Paris, and Hong Kong, they are increasingly moving to hubs that offer better opportunities for growing their wealth and enhanced lifestyles. Henley & Partners' analysis highlights that technology and friendly taxation policies are the foremost creators of wealth. Fastest-growing wealth hubs like Shenzhen, Hangzhou, and the Bay Area host large tech communities to attract HNWIs, while Dubai, Miami, and Singapore benefit from favourable or minimal taxation burdens. These cities are experiencing significant wealth expansion, doubling their millionaire populations over the past decade. America continues to dominate with eight fastest-growing wealth centres. Sixteen Asian cities also feature on the list. Middle Eastern cities, especially within the UAE and Saudi Arabia, have established themselves as pivotal connections in contemporary wealth networks. Source: World's Wealthiest Cities Report 2025 Please note: Rankings are as of December 2024, and all statistics are in USD terms. This table includes only cities with over 10,000 millionaire residents and accounts solely for individuals residing in each city. Millionaire figures have been rounded to the nearest 100. The Silicon Valley of India, Bengaluru, ranked at #3 with 120% millionaire growth, has emerged as one of the fastest-growing wealth hubs globally and in India in the last decade, the report highlights. Furthermore, the capital city and financial capital, Delhi and Mumbai, ranked #14 and #18 globally, have demonstrated strong growth of 82% and 69% growth, respectively, in millionaires over the last ten years. Source: World's Wealthiest Cities Report 2025
Yahoo
05-05-2025
- Business
- Yahoo
West Palm Beach mayor didn't need to force a resignation to get his way
First, kudos to West Palm Beach Mayor Keith James for somehow convincing officials at Palm Beach Atlantic University to revise their campus expansion plans. The mayor was quite accurate in describing a proposed 11-story parking garage as a "monstrosity" that would have potentially brought more traffic into an already congested downtown. Last month, PBAU officials won permission from city commissioners to build a 25-story tower and the massive garage along South Dixie Highway to boost campus enrollment by 2,000 students. James objected, contending that the massive garage would be an eyesore and disrupt hope of a pedestrian-friendly downtown. Fair point. The question we're raising, though: Was it worth the loss of the city's building and planning director? Our answer is a resounding 'no,' but resignations like Rick Greene's are prone to happen when a strong mayor turns petulant. 'He (the mayor) wasn't happy with a presentation that one of my planners made,' Greene told Palm Beach Post reporter Andrew Marra. 'He basically gave me the option of letting that employee go or, if not, I would be fired.' Having a mayor call for the firing of a city staffer over a presentation is petty and beyond the pale. The planner had told commissioners that the proposed garage had met city standards, which prompted planners to approve the project. That wasn't the explanation James had wanted. City planners in West Palm Beach may work for the mayor, but they aren't obliged to ignore objective recommendations to the city commission because of mayoral whim. Editorial: Federal DEI threats are a tough lesson for Palm Beach County schools Greene stepped in to elaborate, in part to complete the presentation and to protect his planner. The city commission approved the plan in a 4-0 vote, an apparent rebuke to the mayor. The order from James to fire the planner came later. Greene took the high road, standing up for a lower-level employee. In calling for the dismissal, James clearly did not. West Palm Beach is going through a major growth spurt — from simply being the county seat to its higher "Wall Street South" aspirations. The affluence ranking in West Palm Beach and Palm Beach put the area among the fastest growing 'wealth hubs' worldwide, according to Henley & Partners World's Wealthiest Cities Report 2025. With that wealth comes major commercial and residential investment that will change the face of West Palm Beach. Whether it's the ongoing changes at CityPlace, proposals to build high-rise condominiums and office towers along the Intracoastal Waterway, the restoration of historic homes in the city's El Cid to the recent rezoning that envisions Broadway Avenue on the city's northside as a grand boulevard, the need for credible municipal planning is key. Letter: Three strikes and you're out – unless you're developing Palm Beach County That can't happen under the leadership of a city leader who's thin-skinned enough to order a department head to fire a city employee who simply but accurately made a presentation during last month's city commission meeting. According to Greene, the mayor had expected the planner to emphasize reservations about the garage's size during the meeting before the vote. The planner didn't, only saying that the project met city standards. At that point, Greene went to the podium and explained that the staff had tried but failed to get the school to lower the garage height. Still, Greene concluded that staff thought the garage had met city standards, thus warranting approval. "He was expecting her to say certain things at the city presentation," Greene told the Post. "What she presented wasn't the exact wording that the mayor wanted." Although all city staff ultimately are answerable to the mayor in West Palm Beach, the call for termination was unjustified, unwarranted and resulted in the resignation of a longtime city official whose experience in overseeing the city's growth and large-scale development in the planning and zoning process will be sorely missed. Again, credit James with successfully obtaining a concession from the school and maintaining the city's long-term goal in addressing traffic and becoming more pedestrian-friendly. Now, he must renew confidence in that process and fill the void at planning and zoning with someone who will insist on objective analysis for projects coming to the commission. It's not a job for a yes-man. Finding the right person should be an easy task for a strong mayor. It will be a challenge for a small one. This article originally appeared on Palm Beach Post: West Palm Beach's PBAU garage goes ahead – with a price | Editorial
Forbes
14-04-2025
- Business
- Forbes
The World's Happiest, Wealthiest, Smartest Places As Per New Reports
Lake Matheson, New Zealand—it tops work-life balance reports and has a new long-term digital nomad visa program If you're considering moving and wondering where to go, several new reports can help you decide. Some reports analyze the wealthiest and smartest cities; some look at the happiest countries in the world and those with the best work-life balance. Here's a rundown of the world's happiest, wealthiest, smartest places, as per recent reports by the United Nations, among others. Some very fortunate destinations might fit into more than one of these benchmarks. For example, Germany ranks 22nd in terms of happiness, and Berlin ranks 5th as a smart city and is in the top ten for work-life balance. Still in Europe, Denmark, Iceland, Finland, Norway, Sweden, and the Netherlands all appear in the top ten for work-life balance and in the top five for happiness in the UN's Happiness Report. Oslo and Copenhagen are in the top ten for Smart Cities. New Zealand has high self-reported happiness among its residents (12th place) and comes first for work-life balance. New Zealand recently launched its long-term working visa program and relaxed rules for its golden passport program, making it far easier for Americans to live and work there. The world's wealthiest cities, as per Henley&Partners World's Wealthiest Cities Report 2025, place four U.S. cities in the top ten. New York is at the top, with almost 400,000 millionaires and 66 billionaires. The top four wealthiest cities after are the Bay Area, Tokyo, Singapore, and Los Angeles. In 6th place, London has 215,700 millionaires and 33 billionaires compared to Paris' 22. Hong Kong, Sydney, and Chicago round out the top ten. You may be looking for somewhere that is as smart as much as wealthy. IESE Cities in Motion Index 2025 assesses 183 cities in 92 countries worldwide in nine key areas: economic performance, technology, environment, international profile and quality of human capital, governance, urban planning and transportation, and social cohesion. Five of the top 10 cities are European: London (1st), Paris (3rd), Berlin (5th), Copenhagen (7th) and Oslo (8th). Three are in the United States: New York (2nd), Washington (6th), and San Francisco (10th). Tokyo comes in 4th in the ranking, and Singapore 9th. London ranks first for human capital and international profile but came 20th in social cohesion, 34th in environment, and 37th in technology. New York leads in economy, is second for international profile, and performs strongly in human capital (4th), urban planning (5th), and mobility & transportation (3rd). It struggles with social cohesion (127th) and environment (100th). The report states that this contrast "reflects a broader trend among U.S. cities, which dominate in economic strength but score poorly in social cohesion and environmental sustainability." The report is in its third year and ranks Edinburgh highly in social cohesion due to its efforts to leverage technology for the benefit of its citizens by taking steps to reduce the digital divide. Reykjavik ranks highly in environment, Bern in governance, Tokyo in urban planning, Hong Kong in technology, and Beijing in mobility and transportation. If you think all that's great, but you still want to make sure you've got the work-life balance sorted, then take a look at the 2024 Global Work-Life Balance Index from HR-tech company Remote, which accounts for factors such as statutory annual leave, sick pay percentage, and parental leave in countries around the world. Wellington, New Zealand, came first for its 32 days of annual statutory leave, plus other attributes such as its universal healthcare, something many of these top ten countries offer. Dublin, Brussels, Copenhagen, and Ottawa round out the top five. Berlin, Helsinki in Finland, Canberra in Australia, Oslo in Norway, and Madrid made the top ten. Unsurprisingly, these countries rank well on the Global Safety Index, and in terms of minimum wage, childcare benefits, and LGBTQ+ inclusion in the workplace. You may want to consider the world's happiest countries before you set out. March 20 was International Day of Happiness, and when the United Nations released its annual World Happiness Report. The United Nations measures 147 countries' happiness on several benchmarks, and the 2025 report focused on benevolence. It found that benevolent acts in society increased during the pandemic and have maintained that bump, leaving many societies 10% kinder to each other than pre-pandemic levels. As per UN data, Finland is the world's happiest country, followed by its European neighbors Denmark, Iceland, Sweden, and the Netherlands. These countries generally find high levels of self-reported happiness. New Zealand came 12th, Ireland 15th, Canada 18th, and Germany 22nd. The U.K. and the U.S. came in 23rd and 24th place, respectively. France came 33rd. Since 2012, the happiness ranking of the U.S. has stayed the same or dropped, and it is now at its lowest level since the study began. As per CNTraveler, the U.S. is one of the countries where 'deaths of despair' (death by suicide or substance abuse) remain high and continue to rise. Finally, maybe you want to think about the weather. For anyone looking for the sunniest cities in Europe, holiday company Holidu says that the top five are all in Spain (Cartagena, Alicante, Malaga, Murcia, and Granada, with all of them receiving more than 273 hours of sunshine every month). For France, Marseille and Nice came in the top 15. So, when choosing a new place to live or visit long-term, it pays to look beyond just wealth. Cities like Berlin, Oslo, and Copenhagen score highly across smart infrastructure, quality of life, and happiness. Countries like New Zealand and Finland also perform consistently well, balancing economic opportunity with social well-being and generous work-life policies. Several destinations emerge as all-rounders—combining prosperity, innovation, and kindness.
Korea Herald
08-04-2025
- Business
- Korea Herald
The World's Wealthiest Cities in 2025
LONDON, April 8, 2025 /PRNewswire/ -- The US continues to dominate, with 11 cities on the Top 50 Cities for Millionaires list in the latest World's Wealthiest Cities Report 2025 ranking, led by New York in 1 st place with 384,500 high-net-worth individuals (including 818 resident centi-millionaires and 66 billionaires). According to the 4 th edition of the annual report published by Henley & Partners and New World Wealth, the Bay Area (San Francisco and Silicon Valley), in 2 nd place with 342,400 resident millionaires, is now home to more billionaires (82) than the Big Apple and continues to thrive as the epicenter of technological wealth creation, enjoying exceptional millionaire growth of 98% over the past decade. Of the Top 50 cities, only Shenzhen (in 28 th place, with 142% millionaire growth, and now home to 50,800 millionaires), Hangzhou (35 th, with 108% growth and 32,200 millionaires), and Dubai (18 th with 102%) grew faster than the Bay Area between 2014 and 2024. Dubai (now boasting 81,200 resident millionaires) also takes the prize for the biggest climber in the Top 50 over the past year, moving from 21 st to 18 th place. Seoul is the biggest faller, dropping to 24 th place from 19 th last year. Tokyo solidifies its position in 3 rd place with 292,300 millionaires, followed by Singapore in 4 th place with 242,400 resident millionaires. Los Angeles (220,600 millionaires, including 516 centis and 45 billionaires) has now overtaken London to claim the 5 th spot, pushing the UK capital out of the Top 5 to 6 th place with just 215,700 millionaires (including 352 centi-millionaires and 33 billionaires). London and Moscow (which ranks 40 th, with 30,000 millionaires, including 178 centis and 23 billionaires) are the only two cities in the Top 50 that have recorded negative growth over the past decade, with their millionaire populations declining by -12% and -25%, respectively. Paris (160,100 millionaires) clings onto 7 th place, while Hong Kong (154,900 millionaires), now in 8 th position, usurps Sydney (152,900 millionaires), pushing it down into 9 th place. Chicago (127,100) leapfrogs over both Beijing (which drops two places from 10 th to 12 th, now with 114,300 millionaires) and Shanghai (down three places from 11 th to 14 th with 110,500 millionaires) to claim a place in the Top 10 for the first time. Lisbon (50 th with 22,200 millionaires) makes its debut on the Top 50 list, with Auckland dropping off. Fastest growing wealth hubs over the past decade Besides Shenzhen, Hangzhou, and Dubai, other cities on the World's Fastest Growing Wealth Hubs list which have more than doubled their resident millionaire populations over the past 10 years, include US cities Scottsdale (125% growth) and West Palm Beach (+112%) and the "Silicon Valley of India", Bengaluru (+120%). Three other American cities — Miami (+94%) whose residents enjoy Florida's low state taxes, the US capital Washington DC (+92%), and Austin (+90%), dubbed "Silicon Hills" — have also seen notably high growth between 2014 and 2024, as have Polish capital Warsaw (+83% in resident millionaires), Emirati capital Abu Dhabi (+80%), and Riyadh (+65%), the capital city of Saudi Arabia. Centi city hotspots over the next decade Looking beyond the established wealth centers, the report also benchmarks wealth in over 100 Centi-Millionaire Hotspots worldwide, with a special spotlight on cities with high growth potential over the next decade (2025 to 2035) to reveal the emerging new geography of super-wealth. Dubai (currently home to 237 centis) and Abu Dhabi (75 resident centis) lead the pack, with both Emirati cities projected to see their centi-millionaire populations more than double over the next 10 years. Explosive 100%+ growth is also forecast for Delhi (125 centi-millionaires) and Bengaluru (43) in India, and Warsaw (32 centis) and Athens (42 centis) in Europe Smaller cities providing targeted investment migration pathways, including St. Julian's and Sliema in Malta (40 centis), Lugano in Switzerland (40 centis), and Latvia's Riga & Jūrmala (11 centis), are all forecast to see 100%+ growth rates in their centi-millionaire populations by 2035. And while no African or Central American cities make it into the Top 50, George Town and Seven Mile Beach in the Cayman Islands (currently home to 40 centis), San José & Santa Ana (17 centis) in Costa Rica, St. George's Parish (25 centis) and Hamilton Parish (22 centis) in Bermuda, Monterrey (10) in Mexico, Panama City (21 centis), South Africa's Cape Town (34 centis), Morocco's Marrakesh (14 centis), and Kenya's Nairobi (10 centis) are all forecast to see +100% growth in their super-wealthy communities before 2035.
Globe and Mail
08-04-2025
- Business
- Globe and Mail
The World's Wealthiest Cities in 2025
LONDON , /CNW/ -- The US continues to dominate, with 11 cities on the Top 50 Cities for Millionaires list in the latest World's Wealthiest Cities Report 2025 ranking, led by New York in 1 st place with 384,500 high-net-worth individuals (including 818 resident centi-millionaires and 66 billionaires). According to the 4 th edition of the annual report published by Henley & Partners and New World Wealth, the Bay Area ( San Francisco and Silicon Valley), in 2 nd place with 342,400 resident millionaires, is now home to more billionaires (82) than the Big Apple and continues to thrive as the epicenter of technological wealth creation, enjoying exceptional millionaire growth of 98% over the past decade. Of the Top 50 cities, only Shenzhen (in 28 th place, with 142% millionaire growth, and now home to 50,800 millionaires), Hangzhou (35 th, with 108% growth and 32,200 millionaires), and Dubai (18 th with 102%) grew faster than the Bay Area between 2014 and 2024. Dubai (now boasting 81,200 resident millionaires) also takes the prize for the biggest climber in the Top 50 over the past year, moving from 21 st to 18 th place. Seoul is the biggest faller, dropping to 24 th place from 19 th last year. Tokyo solidifies its position in 3 rd place with 292,300 millionaires, followed by Singapore in 4 th place with 242,400 resident millionaires. London and Moscow are the biggest losers Los Angeles (220,600 millionaires, including 516 centis and 45 billionaires) has now overtaken London to claim the 5 th spot, pushing the UK capital out of the Top 5 to 6 th place with just 215,700 millionaires (including 352 centi-millionaires and 33 billionaires). London and Moscow (which ranks 40 th, with 30,000 millionaires, including 178 centis and 23 billionaires) are the only two cities in the Top 50 that have recorded negative growth over the past decade, with their millionaire populations declining by -12% and -25%, respectively. Paris (160,100 millionaires) clings onto 7 th place, while Hong Kong (154,900 millionaires), now in 8 th position, usurps Sydney (152,900 millionaires), pushing it down into 9 th place. Chicago (127,100) leapfrogs over both Beijing (which drops two places from 10 th to 12 th, now with 114,300 millionaires) and Shanghai (down three places from 11 th to 14 th with 110,500 millionaires) to claim a place in the Top 10 for the first time. Lisbon (50 th with 22,200 millionaires) makes its debut on the Top 50 list, with Auckland dropping off. Fastest growing wealth hubs over the past decade Besides Shenzhen , Hangzhou , and Dubai , other cities on the World's Fastest Growing Wealth Hubs list which have more than doubled their resident millionaire populations over the past 10 years, include US cities Scottsdale (125% growth) and West Palm Beach (+112%) and the "Silicon Valley of India ", Bengaluru (+120%). Three other American cities — Miami (+94%) whose residents enjoy Florida's low state taxes, the US capital Washington DC (+92%), and Austin (+90%), dubbed "Silicon Hills" — have also seen notably high growth between 2014 and 2024, as have Polish capital Warsaw (+83% in resident millionaires), Emirati capital Abu Dhabi (+80%), and Riyadh (+65%), the capital city of Saudi Arabia . Centi city hotspots over the next decade Looking beyond the established wealth centers, the report also benchmarks wealth in over 100 Centi-Millionaire Hotspots worldwide, with a special spotlight on cities with high growth potential over the next decade (2025 to 2035) to reveal the emerging new geography of super-wealth. Dubai (currently home to 237 centis) and Abu Dhabi (75 resident centis) lead the pack, with both Emirati cities projected to see their centi-millionaire populations more than double over the next 10 years. Explosive 100%+ growth is also forecast for Delhi (125 centi-millionaires) and Bengaluru (43) in India , and Warsaw (32 centis) and Athens (42 centis) in Europe Smaller cities providing targeted investment migration pathways, including St. Julian's and Sliema in Malta (40 centis), Lugano in Switzerland (40 centis), and Latvia's Riga & Jūrmala (11 centis), are all forecast to see 100%+ growth rates in their centi-millionaire populations by 2035. And while no African or Central American cities make it into the Top 50, George Town and Seven Mile Beach in the Cayman Islands (currently home to 40 centis), San José & Santa Ana (17 centis) in Costa Rica , St. George's Parish (25 centis) and Hamilton Parish (22 centis) in Bermuda , Monterrey (10) in Mexico , Panama City (21 centis), South Africa'sCape Town (34 centis), Morocco's Marrakesh (14 centis), and Kenya'sNairobi (10 centis) are all forecast to see +100% growth in their super-wealthy communities before 2035.
