The US and China dominate the ranking of the richest cities in the world
According to the World's Top 10 Wealthiest Cities 2023 report released recently by Henley & Partners and New World Wealth, cities in the US and China dominate the top 10. most millionaire. Meanwhile, only one European city, London, made the top 10.
New York ranks as the wealthiest city in the world, with 340,000 millionaires, while two other US regions, San Francisco and Los Angeles – come in at third and sixth, with 285,000 and 205,400 millionaires respectively. 
Tokyo, which had topped the rankings in previous years, fell to second place with 290,300 millionaires, and London, dropped to fourth place with 258,000 millionaires. Singapore considered the most business-friendly city in the world and one of the top destinations for immigrant millionaires, comes in fifth place with 240,100 millionaires. Sydney is now ranked 10th with 126,900 millionaires. Three cities in China are in the top 10: Beijing (128,200), Shanghai (127,200), and Hong Kong (129,500 millionaires).
Ho Chi Minh City is the 9th city in terms of millionaire growth rate.
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American and Chinese cities also rank high in the top 10 fastest-growing millionaires.
Hangzhou ranks first with a millionaire growth of 105% between 2012 and 2022. Shenzhen and Guangzhou significantly increased the number of millionaires, with an increase of 98% and 86% respectively.
The three cities with the fastest-growing numbers of millionaires in the United States are Austin (up 102%), West Palm Beach (90%), and Scottsdale (88%). India has two cities in the top 10, Bengaluru (88%) and Hyderabad (78%).
According to the survey, Ho Chi Minh City in Vietnam (82%) and Sharjah in the United Arab Emirates (84%) are quickly overtaking them as Asia's next wealthiest cities.
This city (HCMC - PV) is emerging as Asia's next big millionaire hotspot. The rapidly expanding sectors include financial services, textiles, technology, electronics, telecommunications, chemicals, and tourism.
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According to Andrew Amoils, the head of research at New World Wealth, other places with a high concentration of millionaires during the previous ten years include Monaco and Dubai.
Said to be a "paradise" for the super-rich, the average net worth of a person living in Monaco is over $10 million. Dubai is another rich city, with low tax rates, making it a "magnet" attracting millionaires to migrate around the world. Around 3,500 millionaires have moved to the city in 2022 alone.
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