London, Zurich and Hong Kong are rich in history, culture and, well, lots of rich people. Spear’s Magazine, a wealth management publication based in England, and WealthInsight, a research firm, conducted a survey, released earlier this week, that counted people with more than $1 million in assets, not including primary residences, and broke down which cities are home to the most millionaires.
They found that the rich and succesful not only tend to congregate in cities with vibrant nightlife and cultural scenes but also in investment and business capitals. More than half of the cities ranked in the study were also among the Global Financial Centres Index of the most important global financial hubs.
"Favourable tax and outstanding location are important criteria for attracting clusters of millionaires, but so too is ready access to wealth managers and private banks," said a WealthInsight analyst Oliver Williams.
But banking needs aside, luxury recreation is important as well. In Monaco, a tiny principality of roughly 30,000 people next to the French Riviera famous for its beaches and the Monte Carlo Casino, almost a third of the residents were millionaires.
Check out this infographic to see what the best cities to rub elbows with millionaires.
Graphic courtesy of Statista