Cities with the most millionaires as percentage of the overall population, 2016

Perhaps not surprisingly, Monaco has ranked number one on the list of cities with the most millionaires as percentage of the overall population, up 6% compared to 2 years ago.

One in every three people living in Mediterranean principality Monaco are millionaires, according to the survey by Spear’s magazine and WealthInsight. The Swiss banking centres of Zurich and Geneva were in 2nd and 3rd place.

New York, ranked 4th, is the only non-European city to make it into the top five globally, with an estimated one in 21 of its inhabitants is a millionaire. London moved up to fifth, with one in 29 named as a millionaire. Oslo placed 6th, with Hong Kong seventh, Frankfurt eight, Singapore 9th and Amsterdam placing 10th.

Top 10 global cities ranked by density of millionaires

1. Monaco
31.1% of population classed as millionaires

2. Zurich
24.3% of population classed as millionaires

3. Geneva
17.7% of population classed as millionaires

4. New York
4.63% of population classed as millionaires

5. London
3.4% of population classed as millionaires

6. Oslo
2.9% of population classed as millionaires

7. Hong Kong
2.7% of population classed as millionaires

8. Frankfurt
2.7% of population classed as millionaires

9. Singapore
2.7% of population classed as millionaires

10. Amsterdam
2.7% of population classed as millionaires

Top 20 cities in Europe ranked by density of millionaires

1. Monaco: 31.1%
2. Zurich: 24.3%
3. Geneva: 17.7%
4. London: 3.4%
5. Oslo: 2.9%

6. Frankfurt: 2.7%
7. Amsterdam: 2.7%
8. Florence: 2.5%
9. Rome: 2.4%
10. Dublin: 2.3%

11. Venice: 2.3%
12. Paris: 2.0%
13. Brussels: 1.9%
14. Hamburg: 1.8%
15. Stockholm: 1.8%

16. Edinburgh: 1.5%
17. Vienna: 1.5%
18. Berlin: 1.2%
19. Moscow: 0.8%
20. Barcelona: 0.6%

Top 20 cities in Asia ranked by density of millionaires

1. Hong Kong: 2.7%
2. Singapore: 2.7%
3. Doha: 2.2%
4. Tel Aviv: 2.1%
5. Kyoto: 2.0%

6. Osaka: 1.7%
7. Hangzhou: 1.4%
8. Taipei: 1.4%
9. Seoul: 1.4%
10. Tokyo: 1.3%

11. Dubai: 1.2%
12. Beijing: 1.1%
13. Abu Dhabi: 1.1%
14. Shanghai: 0.7%
15. Shenzhen: 0.6%

16. Bangkok: 0.6%
17. Mumbai: 0.5%
18. Guangzhou: 0.5%
19. Nanjing: 0.4%
20. Riyadh: 0.4%

*The survey defines a millionaire as a person who has net assets of $1 million (€902,000) or more – excluding their primary residence.