In the list of 20 countries that make up the report, the United States has the most cities represented, with six American cities in the document. In Europe, millionaires mostly prefer London in the UK, Frankfurt in Germany, Zurich and Geneva in Switzerland, as well as Paris in France. In turn, in the Asia-Pacific region, eight cities are represented.

Data collected by New World Wealth indicates that millionaires' favorite cities are changing. New York, the city in the first place in the ranking, lost 12% of its resident millionaires in 2022. In the same vein, Los Angeles and Malibu also fell by 6% (6th place in the ranking) and Chicago with losses of 4% (7th place).

Although London ranks fourth in the rankings, making it Europe's favorite city for millionaires, the region has lost 9% of its millionaire residents. However, at the bottom of the table is Paris, the European city that sank the most, with a drop of 12%.

Popularity of Lisbon

Following the opposite trend comes Lisbon, representing the third European city with the highest growth in the number of resident millionaires, and this figure grew 7% to 22,100, a number still far from the 88,600 registered in Paris. In the top European cities with the highest growth, Lisbon is behind Lugano, Switzerland, with a growth of 8%. In first place are Cannes and Mougins, in France, with an increase of 8%.

Globally, the cities with the highest growth in the number of resident millionaires were Riyadh in Saudi Arabia (20%), Sharjah in the United Arab Emirates (20%) and Lusaka in Zambia (18%).

Abu Dhabi and Dubai are also rapidly accumulating new resident millionaires as the UAE becomes more attractive, with low taxes and new residency schemes and supported in part by record Russian emigration, according to Bloomberg.

Beijing and Shanghai, in China, occupy the ninth and tenth place in the ranking, respectively, and have also recorded losses in the resident millionaire population. Henley & Partners predicts that China will be the country with the second biggest wealth flight in 2022, after Russia.