The city home to the most millionaires – and it’s not where you think | World | News
New research has identified the cities with the highest concentration of millionaires and London makes it into the top 10.
Zurich, Singapore and Dublin lead the list, while London secured the sixth spot.
The study examined global wealth data to determine which cities and countries have the most millionaires.
It also explored average salaries and working hours to reveal where individuals can achieve millionaire status in the shortest time.
The most popular city for millionaires to reside in is Zurich, Switzerland.
It has a population of almost 434,000, with around 88,400 residents being millionaires, which accounts for nearly 20.4% of the city’s population.
This equates to 20,374 millionaires per 100,000 people in the city.
In second place, with 4,305 millionaires per 100,000 people, is Singapore — once referred to as the “Silicon Valley of Asia.”
The city, located in the country of the same name, has a population of almost 5.7 million people.
Around 244,800 citizens are millionaires, accounting for 4.31% of Singapore’s population.
The Irish city of Dublin takes third place, with just over 4% of its residents being millionaires.
Dublin has a population of around 592,700 people, with 24,200 having a fortune in the millions.
This means there are just over 4,080 millionaires per 100,000 people, perhaps looking for the investment opportunities the city has to offer.
London sits just outside the top five in sixth place. With a population of nearly 8.8 million, London boasts 2,580 millionaires per 100,000 residents, solidifying its status as a global financial powerhouse.
The country with the most millionaires is Switzerland with 12,265 millionaires per 100,000 people.
Switzerland has a population of almost nine million, of which nearly 1.1 million are millionaires, accounting for almost 12.3% of the country’s population.
Zurich is the city where you can become a millionaire in the shortest time.
On average, Zurich residents earn a yearly net salary of almost $96,300 (£79,514), equating to just over $1,850 (£1,527) per week after working an average of less than 30 hours.
Considering this, it would take approximately 540 weeks (10 years, 3,791 days or 16,162 hours) for the average Zurich resident to become a millionaire.
The 10 cities home to the most millionaires listed with their populations and the number of millionaires per 100,000 people:
1 Zurich, Switzerland, 433,890 – 20,374,
2 Singapore, Singapore, 5,685,807 – 4,305,
3 Dublin, Ireland, 592,713 – 4,083,
4 Amsterdam, Netherlands, 1,114,745 – 4,055,
5 Sydney, Australia, 5,041,275 – 2,916,
6 London, UK, 8,799,728 – 2,580
7 Tokyo, Japan, 14,047,594 – 2,123
8 Hong Kong, Hong Kong (SAR China), 7,413,070 – 1,934
9 New York City, USA, 19,571,216 – 1,786
10 Vienna, Austria, 2,006,134 – 1,480
