Shocking no one, New York is at the top of the list.
Despite those impressive numbers, seven of the top 10 cities actually saw a loss of high-net-worth residents in the first half of 2022. At the very top, New York saw a 12 percent drop in its HNWI population, while Tokyo saw an 8 percent decrease. The Bay Area, one of the few metropolises to see growth this year, experienced a 4 percent jump. The only other two cities in the top 10 to see positive movement were Singapore and Houston .
Henley & Partners, the residency advisory firm that compiled the report, also highlighted the 25 fastest-growing cities in the world in terms of their HNWI population. Those with robust oil and gas industries make up a large part of that list, with Riyadh coming in first, followed by Sharjah in the United Arab Emirates.
As far as the United States is concerned, Austin is the first American city to appear on the fastest-growing list, as its HNWI numbers have increased 14 percent in 2022 alone, with 15,800 such people residing in the Texas city. As many companies move their offices to Texas and Florida, a number of other cities in both states are also seeing a rise in high-net-worth individuals moving to them, Henley & Partners noted. West Palm Beach and Miami, in particular, were two standout Florida cities.
Of course, many HNWIs split their time between cities, so you don’t actually have to choose just one millionaire-laden area to settle down in.
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