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New York and London to remain top cities
New York and London to remain top cities
| Published: | 29 Mar at 9 AM |
New York and London will remain as the world’s most important cities for wealthy individuals during the next decade, suggests research.
However, Shanghai and Beijing are viewed by high-net-worth people as the key up-and-coming cities, revealed the Citi Private Bank and Knight Frank’s Wealth Report. The research also describes the shift in wealth towards the Asia Pacific region as “relentless”, according to the BBC.
It forecast that the amount of individuals worth $100m (£63m) would increase by 40 per cent by 2016. London came top in three out of the four categories which the report judged the world cities on – quality of life, economic power, and knowledge and influence. Washington was ranked top in the other category, political power, with London coming second.
Monaco stays on top of the pile as the most expensive location to live, with one square metre having an average worth of $58,300, with Cap Ferrat, London and Hong Kong occupying the next three places.
The report’s editor Andrew Shirley said that the Wealth Report this year contains further evidence that the wealthy are coping with the economic downturn better than the general population. The survey takes into account the opinions of over 4,000 people worth an average of over $100m.
However, Shanghai and Beijing are viewed by high-net-worth people as the key up-and-coming cities, revealed the Citi Private Bank and Knight Frank’s Wealth Report. The research also describes the shift in wealth towards the Asia Pacific region as “relentless”, according to the BBC.
It forecast that the amount of individuals worth $100m (£63m) would increase by 40 per cent by 2016. London came top in three out of the four categories which the report judged the world cities on – quality of life, economic power, and knowledge and influence. Washington was ranked top in the other category, political power, with London coming second.
Monaco stays on top of the pile as the most expensive location to live, with one square metre having an average worth of $58,300, with Cap Ferrat, London and Hong Kong occupying the next three places.
The report’s editor Andrew Shirley said that the Wealth Report this year contains further evidence that the wealthy are coping with the economic downturn better than the general population. The survey takes into account the opinions of over 4,000 people worth an average of over $100m.
