LONDON and New York remain the top cities for the super rich, but Shanghai and Beijing are expected to join the top 10 list by 2023 at the expense of Geneva and Paris, according to a report by Knight Frank and Bank of China International Ltd.
The two are 24th and 15th on this year's list which defines those with US$30 million or more in net assets as high-net-worth individuals.
The factors that make a city important to the rich include economic activity, political power, quality of life and knowledge and influence.
Knight Frank's Liam Bailey said that major cities in China were set to achieve new heights in worldwide rankings."
Wednesday, March 6, 2013
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