USA surpassed China already Australia in it ranking of richest cities in the world. The last report gave an account of this subjugation of the North American giant, which was done with 10 out of 50 places richest in the entire globe.
New York, the famous Big Apple, stood out as the place most chosen by the rich to settle. Although this trend is nothing new and is reflected in its exclusive neighborhoods, the luxurious stores and even the average prices in Manhattan, it has now been confirmed by the investment migration firm Henley & Partners.
The index looked at 97 cities in nine regions around the world and concluded that the first place goes to the iconic American city, which was home to approximately 340,000 millionaires. they follow him tokyohe California Bay Area -also in the United States-, London and Singapore.
The Henley & Partners report explained that New York’s position is due to a sharp increase in the number of high net worth individuals deciding to settle there. It is estimated that in the period 2021-2022 the increase was around 40%, similar to that of Singapore. However, for the latter city, the rise was not enough and it lagged behind other cities such as Shanghai, Houston, Dubai and Bombay.
followed by the United States, China concentrated the second most wealthy cities in the index, with five of the fifty Just behind was Australiawith four.
However, the North American giant led again when it comes to an even more elite category since the California Bay Area won in the total number of billionaires. 63 of these lucky ones call the region surrounding the famous area of Silicon Valley and the beautiful city of San Francisco.
The following positions in this aspect remained between this country and China, completing with New York, Beijing, Los Angeles and Shanghai.
For its part, the Asian power led in the ten-year increase in the number of high net worth individualsobserved mainly in the Chinese city of hangzhou. There, the rise was 105%a figure very close to 102% of Austin, Texas. In addition, Miami and West Palm Beach -in Florida- benefited from the decision of multiple business leaders and financial firms high-profile who, during the pandemic, chose the south of the state to sit. This caused a 75% and 90% increase respectively of high net worth individuals.
This was even reflected in the rise in housing prices, which now forces the inhabitants to allocate close to 78.71% of their income to this expense. “The city has become the least affordable housing market in the country,” an index from the real estate portal RealtyHop mentioned some time ago.
He too Financial Times has considered Miami the largest city in the United States for being a pole of attraction for a range of companies -ranging from technology to gastronomy- and investors from various fields.
At the other extreme, some cities at the very bottom of the index have surprised. An example of this is Moscow that, as a result of war that Russia began in the Ukraine, added to the repeated and sustained sanctions imposed by the West and the Exodus As this triggered, the number of millionaires living there plummeted a 44% compared to the previous decade. St. Petersburganother major Russian city, followed the same fate and experienced a drop in the 38 percent.
(With information from Bloomberg)
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