Last week, the influential SPEAR’S magazine published a list of millionaires’ most favourite places of residence. It comes as no surprise that the Principality still remains in first position, as every third resident of Monaco is a millionaire.
Second and third place went to Swiss banking centres, Zurich and Geneva. In these cities the proportion of millionaires is of 24.3% and 17.7% respectively.
London has also become a favourite city of the world’s richest people. Every 29th Londoner has earned at least one million dollars, which is 3.4% of ‘The Big Smoke’s’ population.
Over the past few years, London has risen from sixth to fifth place in the ranking of residents earning more than one million dollars, excluding the value of their primary residence.
London has been a long term competitor to New York, named the best American city and taking fourth place in the world’s richest population ranking. According to the Information Centre “Provider Wealth Insight show”, every 21st inhabitant of the Big Apple is a millionaire.
The Principality continues to build momentum in this area. Over the last two years, the density of its millionaire population has increased by 6%. This dynamic is largely due to an exclusive policy of granting a Monegasque nationality to extremely wealthy people.