Singapore Ranks Fifth In Top 20 Richest Cities In The World 2022

According to a report released by investment migration consultant Henley & Partners, Singapore ranks fifth among the world’s richest cities, with nearly 250,000 millionaires and 26 billionaires. New York, Tokyo, the San Francisco Bay Area, and London topped the list, with 345,600, 304,900, 276,400, and 272,400 millionaires, respectively.

Singapore, with 249,800 millionaires, 336 centimillionaires, and 26 billionaires, is one of six Asian cities in the top ten. For those of you who are unaware, centimillionaires are people who have a net worth of more than USD100 million (RM465 million).

Singapore, a city-state, has 4.6% of its 5.45 million people classified as millionaires, compared to Malaysia, which has only 0.2% categorised as millionaires, according to The Malaysian Reserve, citing Credit Suisse Group AG’s 2019 report.

According to Henley & Partners, Singapore is the most popular destination for emigrating millionaires and the world’s most business-friendly city. “A net inflow of approximately 2,800 High-Net-Worth individuals is projected for 2022 only, according to the recent Henley Private Wealth Migration Dashboard,” he added.

Here’s the list of the top 20 richest countries according to the report:

1. New York: 345,600 millionaires, 737 centimillionaires, and 59 billionaires
2. Tokyo: 304,900 millionaires, 263 centimillionaires, and 12 billionaires
3. San Francisco Bay Area: 276,400 millionaires, 623 centimillionaires, and 62 billionaires
4. London: 272,400 millionaires, 406 centimillionaires, and 38 billionaires
5. Singapore: 249,800 millionaires, 336 centimillionaires, and 26 billionaires
6. Los Angeles & Malibu: 192,400 millionaires, 393 centimillionaires, and 34 billionaires
7. Chicago: 160,100 millionaires, 340 centimillionaires, and 28 billionaires
8. Houston: 132,600 millionaires, 314 centimillionaires, and 25 billionaires
9. Beijing: 131,500 millionaires, 363 centimillionaires, and 44 billionaires
10. Shanghai: 130,100 millionaires, 350 centimillionaires, and 42 billionaires
11. Sydney: 129,500 millionaires, 188 centimillionaires, and 16 billionaires
12. Hong Kong: 125,100 millionaires, 280 centimillionaires, and 28 billionaires
13. Frankfurt: 117,400 millionaires, 161 centimillionaires, and 14 billionaires
14. Toronto: 116,100 millionaires, 187 centimillionaires, and 17 billionaires
15. Zurich: 105,100 millionaires, 258 centimillionaires, and 12 billionaires
16. Seoul: 102,100 millionaires, 241 centimillionaires, and 25 billionaires
17. Melbourne: 97,300 millionaires, 149 centimillionaires, and 12 billionaires
18. Dallas & Fort Worth: 92,300 millionaires, 211 centimillionaires, and 18 billionaires
19. Geneva: 90,300 millionaires, 345 centimillionaires, and 16 billionaires
20. Paris: 88,600 millionaires, 121 centimillionaires, and 15 billionaires

Although Singapore has 55,100 fewer millionaires than Japan, the city-state has 73 centimillionaires and 14 billionaires. Apart from Japan and Singapore, other Asian countries that topped the list include Beijing, Shanghai, Hong Kong, and Seoul.

Sources: The Vocket, Henley Global

Neetashini Kanendran contributed to this article