Hong Kong Drops Behind Singapore in New Ranking of World’s Richest Cities
- Beijing’s tightening grip has driven exodus of wealth from HK
- London falls to fourth place, while New York tops list
A person takes a selfie photograph in Hong Kong, China.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Hong Kong fell behind rival Singapore in a ranking of the world’s wealthiest cities.
The number of millionaires in Hong Kong dropped 27% to 129,500 between 2012 and 2022, while it grew 40% to 240,100 in the city-state, according to a list published by investment migration company Henley & Partners in partnership with global wealth intelligence firm New World Wealth.