Latest news with #World'sWealthiestCitiesReport
Business Journals
16-05-2025
- Business
- Business Journals
Millionaires continue to flock to Dallas as region booms, report finds
Dallas is home to 72,400 millionaires, up 5.5% from 68,600 in 2023, according to the latest "World's Wealthiest Cities Report" released on May 14 by London-based consulting firm Henley & Partners. Read on to learn more, including how many billionaires Dallas has and what's driving the growth.
Daily Tribune
10-04-2025
- Business
- Daily Tribune
Number of millionaires in London falls as wealthy flee
TDT | London Thousands of millionaires fled London in the past year with some moving to the United States or Asia driven out by high taxes and Brexit, according to a report published Wednesday. The exodus continued a decade-long trend that has been attributed to tax increases, failure to recover from the 2008 financial crisis and Britain's acrimonious departure from the European Union. Some 11,300 dollar millionaires exited London in 2024, found the annual World's Wealthiest Cities Report published by advisory firm Henley & Partners and data intelligence company New World Wealth. London now has 215,700 dollar millionaires, down from 227,000 in 2023, the report found. The British capital was pushed into sixth place last year by Los Angeles, which overtook it with 220,600 millionaires. Andrew Amoils, head of research at New World Wealth, said the 'growing dominance' of the United States and Asia in tech had caused' several wealthy tech entrepreneurs in the UK to reconsider their base'. 'Brexit has arguably had an exacerbating effect on this,' he said, in comments emailed to AFP. The Times newspaper said tax advisers revealed some people were moving to countries such as Portugal, Spain, Greece, as well as the United Arab Emirates and Italy, where taxes are lower or people can pay a fixed annual fee to avoid them. According to the study, London's millionaire population has slumped 12 percent since 2014. Moscow is the only other city in the top 50 which has fallen, suffering a 25 percent decline due to Russia's invasion of Ukraine in 2022. Paris has recorded a five percent rise in millionaire residents since 2014, with the San Francisco Bay area also soaring by 98 percent and Singapore enjoying a 62 percent millionaire growth.
Morocco World
08-04-2025
- Business
- Morocco World
The World's Wealthiest Cities in 2025
Fez– Wealth doesn't sleep; it migrates. It follows low taxes, fast internet, favorable laws, and increasingly, lifestyle. And in 2025, the richest cities on Earth aren't just financial powerhouses, they're carefully curated ecosystems where capital, creativity, and convenience collide. According to the latest World's Wealthiest Cities Report by Henley & Partners and New World Wealth, millionaire populations aren't just growing, they're shifting. Fast. Some cities are booming with double-digit growth; others are slipping quietly down the ladder, casualties of policy shifts and changing investor appetites. The US still leads the charge, but the real story is in the momentum. who's rising, who's fading, and which places are quietly building the kind of long game that attracts not just money, but the minds behind it. New York, ever the heavyweight, holds onto its top spot with 384,500 resident millionaires, but it's the Bay Area making headlines. With 342,400 millionaires and more billionaires than the Big Apple, San Francisco and Silicon Valley are proof that the tech boom isn't a phase but a dynasty in the making. Their 98% growth over the past decade speaks to the magnetic pull of innovation-driven wealth. Asia, too, is on a tear. Tokyo sits comfortably in third place, powered by a strong Nikkei recovery. Meanwhile, Shenzhen and Hangzhou are the quiet disruptors Chinese cities once underestimated, now surging with 142% and 108% millionaire growth, respectively. These are not just tech hubs; they're future capitals of global capital. Then there's Dubai. Rising faster than the desert sun, it's now home to over 81,000 millionaires and has climbed three ranks in just a year. With zero income tax, investor-friendly residency pathways, and an enviable lifestyle blend, it's no wonder the UAE is pulling in global wealth with magnetic force. Abu Dhabi isn't far behind, marking the Gulf's growing clout in the world's financial landscape. But not all cities are basking in a billion-dollar glow. London has slipped out of the Top 5, its millionaire count shrinking by 12% over the decade. Moscow's decline is even steeper – down 25%. As policy and geopolitics bite, wealth is quietly booking one-way tickets elsewhere. Stateside, smaller U.S. cities like Scottsdale, West Palm Beach, and Austin are gaining steam. With business-friendly laws, tax incentives, and vibrant local economies, these underdogs are proving that you don't need skyscrapers to attract seven-digit bank accounts. Zooming in on the ultra-wealthy, the centi-millionaire map (those with $100M+ in liquid wealth) is redrawing itself. Delhi, Bengaluru, Warsaw, Athens– unexpected names, but not for long. Each is projected to double its centi population by 2035, driven by tech ecosystems, strategic migration programs, and good old-fashioned ambition. And while Africa doesn't yet have a city in the Top 50, that story is already starting to turn, especially in Morocco. Marrakech: Africa's quiet luxury bet Marrakech, with its current 14 centi-millionaires, might not grab headlines yet, but keep watching. The city is forecast to more than double its ultra-wealthy residents in the next decade. And it's not hard to see why. This isn't just a tourist darling with a flair for the photogenic. Marrakech is steadily carving out a reputation as a lifestyle destination for the globally affluent, those seeking more than yachts and stock options. It's where heritage meets horizon. Where craftsmanship, calm, and cosmopolitanism co-exist in a way few places can offer. And as wealth redefines itself beyond numbers, this city might just be the smartest investment of all with its unique rhythm and rare depth. Tags: citiesRichTourismWealth
