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Monaco tops list of cities with most millionaires per capita

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Perhaps unsurprisingly, Monaco – the city-state renowned as the premier playground of the rich and famous – has come top in a league table of cities with the highest percentage of millionaires per head of population.

In a follow up to survey from 2014 carried out by Spear’s Magazine and WealthInsight, the latest research shows that sovereign city-state Monaco still has the highest percentage of millionaires with almost one-in-three inhabitants classed as a millionaire.
 
Not too far behind Monaco are Swiss banking centres Zurich and Geneva in second and third place. New York is named as the top North American city and fourth overall with almost one-in-twenty one people named as millionaires.
 
London moves up one-in-the ranking to fifth overall with one-in-twenty nine inhabitants named as millionaires.
 
WealthInsight’s Oliver Williams says: “Monaco continues to add more millionaires per head of its population than anywhere else: It has seen its density go up by 6 per cent since the last ranking two years ago. Such is the escalating exclusivity of the Principality that only the ultra-wealthy are able to lay hands on Monegasque passports."
 
“London’s financial strength has also seen it rise through the rankings; it now boasts more millionaires per head than Frankfurt despite being the second most populous city on the list after New York."  
 
“It’s interesting to note that, although seven European cities make up the top 10, less than half of them are in the European Union. Zurich and Geneva, however, have both seen a fall in their millionaire densities as outside pressures exert themselves on the Swiss private banking industry.”  

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