The Richest Cities in the World for You to Invest In

Wealth owners and managers must constantly keep their fingers on the pulse of the global economy and financial market, in order to recognise key trends and make more informed investment decisions.

Interestingly, one of the most recent trends has seen the global economic focus switch from countries to cities, thanks to their increased efficiency and fast-growing economic output.

In this post, we’ll explore this trend in a little more detail, while appraising the richest cities in the world from an investor’s perspective.

Why are Rich and Prosperous Cities Important?

There are numerous factors behind the popularity of bustling metropolitan cities across the globe, including the simple fact that urbanisation is a known creator of wealth.

Make no mistake; large cities are driven and being transformed by urbanisation, which also incorporates a raft of technological innovations and the continual exchange of new and exciting ideas.

This is borne out by the fact that three of the richest countries in the world as measured by GDP per capita (namely Qatar, Luxembourg and Singapore) record that a staggering 90% of their total populations reside in cities.

This reflects a wider trend too, with around 90% of the global population forecast to be living in major cities by the end of the century. This is a long-term trend that has been predicted by Oxford University, and it highlights the viability of certain cities as lucrative investment options going forward.

The Top Countries From an Investor’s Perspective

The question that remains, of course, is what cities are capturing the attention of wealth managers across the globe? We’ve broken down some of the best and most appealing options below, while appraising what sets them apart from rival locations?

  • #1. Beijing: The city of Beijing has always been one of the most prosperous in the world, existing as a leading tech hub in China and one that has always been a significant attractor of wealth. There are around 100 billionaires in Beijing, with a cumulative net worth of $484.3 billion and 33 new billionaires having been added since the beginning of 2021. The city’s richest resident is Zhang Yiming, with a net worth of $35.6 billion and a thriving interest in Internet entrepreneurship.
  • #2. New York City: The ‘Big Apple’ is home to an impressive 99 billionaires, who boast a combined net worth of $560.5 billion and fund some of the most significant technology enterprises in the world. A total of seven new billionaires have been added since the start of 2021, although the city’s richest resident remains Michael Bloomberg with a net worth of $59 billion.
  • #3. Hong Kong: We close with Hong Kong, which features 80 billionaires with a total net worth of $448.4 billion. However, Hong Kong is one of the fastest-growing investment and economic hubs, with nine new billionaires having been created since the start of 2021. The region’s richest resident is Li Ka-Shing, who’s worth an estimated $33.7 billion at the time of writing.

TIME BUSINESS NEWS

TBN Editor

Time Business News Editor Team