High-income immigration advisors Henley and Partners have just released their latest World’s Wealthiest Cities Report and Vancouver ranks in the top 30 - barely.
According to the report, we aren't the wealthiest city in Canada (that title goes to Toronto) but we are 29th in the world with a reported six billionaires, 67 centi-millionaires and a whopping 37,300 high-net-worth individuals (HNWIs), meaning with worth over USD $1M, walking among us.
The report breaks down data highlighting the world’s 97 wealthiest and fastest growing cities with the most millionaires, centi-millionaires, and billionaires.
The data is intended to be informative for followers of private wealth and wealth migration trends such as investors and their advisors, or even policymakers, but we just read it and weep.
New York City achieved the top spot by a landslide. The world’s wealthiest city has 58 billionaires, 44 more than the city in second place, 724 centi-millionaires, and 340,000 HNWIs.
Runner-up Tokyo by comparison “only” has 14 billionaires, 250 centi-millionaires, and 290,300 HNWIs.
The San Fransico Bay Area, London, England, and Singapore round out the rest of the top five. Interestingly, London has more billionaires and centi-millionaires than Tokyo but has 15 per cent fewer HNWIs than last year and placing it in fourth place overall.
The interactive chart allows people to sort the ranking by wealth category (billionaire, centi-millionaire, HNWI) which can drastically change the results. For instance, U.S. cities have secured all top three spots for centi-millionaires (New York, The Bay Area, and Los Angeles) but when it comes to billionaires, New York and The Bay Area switch places and Beijing beats out L.A. by one.
Vancouver is 39th for centi-millionaires and 41st for billionaires.
We beat out Montreal and Calgary though, by a lot. The two other Canadian cities made the list but each only has two billionaires calling them home, according to the report. Montreal apparently has 26 resident centi-millionaires and Calgary has 21. And Montreal has 17,900 HNWIs while Calgary has 14,700 (so much for oil money).
