According to Knight Frank’s 2023 Wealth Report, the Top-3 cities in the world for ultra-high-net-worth-individuals (assets greater than $30M excluding principal residence) are as follows:
- London, UK
- Tokyo
- Singapore
London has a unique proposition,” Liam Bailey, Knight Frank’s global head of residential research, said. “There’s no other city that compares as a global hub for so many different sectors.”
But with the uncertainty of the looming Brexit proposition, there is wide speculation that London could soon face an exodus of HNWI’s. The government’s assessment of the economic impact of leaving the EU would reduce GDP by 6.7% and no deal at all would result in a 9.7% smaller economy.
The world had almost 200,000 ultra-high-net worth individuals last year, according to the Knight Frank study, with more than two-thirds of them across Asia, Europe and North America.
