In entirely unrelatable news, the world’s wealthiest cities have been revealed and Sydney has made it to the top 10. The list is compiled by residence and citizenship planning firm Henley and Partners based on the number of resident millionaires in 97 cities around the world. Cities in the USA and China dominated the list with not one European city making it to the top 10 with the exception of London. Sydney landed the 10th spot on the list with figures recorded from December 2022.
Wealthiest cities in the world
New York topped the list with 340,000 millionaires followed by Tokyo at number two with 290,300 millionaires. San Francisco Bay Area, London and Singapore rounded out the top 5. With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia’s wealthiest city. It’s also predicted to reach the top 5 wealthiest cities in the world by 2040.
Los Angeles, Hong Kong, Beijing and Shanghai rounded out the top 10.
While Sydney features high on this list, it also continues to grapple with a cost of living crisis. Last year it was named the second least affordable city in the world to buy a home in a report by Demographia’s International Housing Affordability.
See the top millionaire hotspots around the world here.