Hong Kong ranks behind Dubai, Singapore in list of top destinations for the rich
City ranks highly for business environment and family infrastructure, but trails some rivals in cultural elements, Savills says
Dubai took the top spot, followed by New York and then Singapore, with Abu Dhabi in fifth, the consultancy said in its inaugural HNWI Hotspot Index, released on Tuesday.
The report analysed nearly 100 destinations on five metrics: business environment and wealth clustering, family infrastructure and cost, legacy planning, lifestyle, and privacy.
“Each of these cities offers the full suite of strong business and family environments, legal structures that make redistributing straightforward, strong lifestyle provisions and high levels of security and privacy,” the study said.
Savills defined an HNWI as a person with net worth of US$5 million or more.
In 2024, more than 680,000 individuals were minted as new US-dollar millionaires, the study said. By 2029, 5 million more are expected to join their ranks, an increase of about 9 per cent over 2024 levels.