Top 20 global cities for wealthy people to live, invest and enjoy

Wealthy people have the freedom to live wherever they like, but many choose cities where they have access to the business, investing, and lifestyle opportunities they desire.

The latest Knight Frank City Wealth Index – built around three categories – wealth, investment and lifestyle – features “the usual suspects” as well as some up-and-coming cities.

The rankings take into account the population size of a city’s high-net-worth individuals (HNWIs) – those with more than US$1 million in net assets – and ultra high-net-worth individuals (UHNWIs) – those with assets worth more than US$30 million.

In terms of UHNWIs, London has the largest population with 4,944, an increase of 582 over the past five years, the most of any city. For HNWIs, Tokyo reigns supreme with 488,582, although New York has seen the highest growth with an additional 55,434 HNWIs.

The index also considers investment opportunities, tallying major commercial and residential property investments by private individuals and family offices. The measure factors in the total volume of investment and the diversity of investors in terms of nationality.

North American cities dominate for private investment, occupying six of the top 10 spots in this category, with New York in top place. But London remains top for diversity of investors.

Finally, the ranking reflects several lifestyle factor, including the number and quality of universities, the safety of the city, and the volume of five-star hotels and leading restaurants.

Two cities dominate this category: London and Tokyo. London leads, owing to the high number of five-star hotels – 76 – and the number and quality of its universities. Tokyo ranks highest for luxury dining and is the safest city according to the Economist Safe Cities Index.

Check out the top 20 cities on the index, in descending order: