New research reveals that Monaco has highest percentage of millionaires, with three in 10 people.<\/p>\n
Research conducted by Spear’s Magazine, in conjunction with wealth consultancy company WealthInsight, found that Swiss banking capitals Zurich and Geneva, also had a high percentage of millionaires.<\/p>\n
Key financial centres New York and Frankfurt placed fourth and fifth.<\/p>\n
London, in sixth place, has 281,000 millionaires, or 3.39% of its population, Spear’s Magazine said.<\/p>\n
WealthInsight defines ‘millionaires’ as individuals with net assets of US$1 million or more, excluding their primary residences.<\/p>\n
WealthInsight Analyst Oliver Williams said: “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.”<\/p>\n
“Switzerland’s two financial hubs of Zurich and Geneva are traditional havens of private banking, but so too is London, the world’s third largest home of millionaires.”<\/p>\n
Top 20 cities for millionaires:<\/p>\n
#<\/strong><\/td>\n| City<\/strong><\/td>\n | Millionaires (% of population)<\/strong><\/td>\n<\/tr>\n | 1<\/td>\n | Monaco<\/td>\n | 29.21<\/td>\n<\/tr>\n | 2<\/td>\n | Zurich<\/td>\n | 27.34<\/td>\n<\/tr>\n | 3<\/td>\n | Geneva<\/td>\n | 17.92<\/td>\n<\/tr>\n | 4<\/td>\n | New York<\/td>\n | 4.63<\/td>\n<\/tr>\n | 5<\/td>\n | Frankfurt<\/td>\n | 3.88<\/td>\n<\/tr>\n | 6<\/td>\n | London<\/td>\n | 3.39<\/td>\n<\/tr>\n | 7<\/td>\n | Oslo<\/td>\n | 2.90<\/td>\n<\/tr>\n | 8<\/td>\n | Singapore<\/td>\n | 2.80<\/td>\n<\/tr>\n | 9<\/td>\n | Amsterdam<\/td>\n | 2.63<\/td>\n<\/tr>\n | 10<\/td>\n | Florence<\/td>\n | 2.59<\/td>\n<\/tr>\n | 11<\/td>\n | Hong Kong<\/td>\n | 2.58<\/td>\n<\/tr>\n | 12<\/td>\n | Rome<\/td>\n | 2.54<\/td>\n<\/tr>\n | 13<\/td>\n | Dublin<\/td>\n | 2.40<\/td>\n<\/tr>\n | 14<\/td>\n | Doha<\/td>\n | 2.31<\/td>\n<\/tr>\n | 15<\/td>\n | Toronto<\/td>\n | 2.29<\/td>\n<\/tr>\n | 16<\/td>\n | Venice<\/td>\n | 2.25<\/td>\n<\/tr>\n | 17<\/td>\n | Brussels<\/td>\n | 2.11<\/td>\n<\/tr>\n | 18<\/td>\n | Houston<\/td>\n | 2.09<\/td>\n<\/tr>\n | 19<\/td>\n | San Francisco<\/td>\n | 2.07<\/td>\n<\/tr>\n | 20<\/td>\n | Paris<\/td>\n | 2.04<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n | More on global millionaires<\/h3>\nWhere are the world\u2019s millionaires going?<\/strong><\/a><\/p>\n Cities with the most millionaires<\/strong><\/a><\/p>\n The richest city in South Africa<\/a><\/strong><\/p>\n Mapping the world\u2019s billionaires<\/strong><\/a><\/p>\n |