Hong Kong and Singapore come out top with almost a three in every one hundred people classed as millionaires
Doha boasts most millionaires per capita in the Middle East
Oil rich states Abu Dhabi and Dubai both make top twenty
Kyoto and Hangzhou named as brand new entries
London - The cities with the highest percentage of millionaires per head of the population in Asia and the Middle East have been revealed by Spear's Magazine and leading wealth consultancy company WealthInsight.
In a survey commissioned by the Elite Traveler luxury media group, the research shows that both Hong Kong and Singapore have the highest percentage of high net worth individuals in Asia, with almost three in every one hundred inhabitants classed as a millionaire.
Doha is the highest ranking city in the Middle East, with just over two in every one hundred people classed as millionaires. Tel Aviv comes in fourth place, while brand new entry Kyoto comes in fifth.
Commenting on the findings, Oliver Williams of WealthInsight said: "For years, Singapore and Hong Kong have coaxed Asia's millionaires to their city-states. Today they are very much rivals, with both promising the same financial might and quality of life. While many millionaires throughout Asia are attracted to these global cities, many more remain in their local regions: Cities such as Hangzhou and Kyoto have a higher density of millionaires then their respective capitals.
"Doha has the highest density of millionaires in the Middle East, largely driven by oil and gas revenues. However, as wealth in the Gulf dries up alongside oil prices, entrepreneurial cities such as Tel Aviv will take their places.
For media questions please contact Sam Hall on firstname.lastname@example.org or on 07801 562 668.
WealthInsight maintains a proprietary database of over 100,000 HNWIs globally. With the database as the foundation for research and analysis, WealthInsight has been able to obtain an unsurpassed level of granularity on which cities HNWIs live around the world.
Millionaires" otherwise known as "high net worth individuals" or "HNWIs" refer to individuals with net assets of US$1 million or more excluding their primary residences.
WealthInsight is the leading source of news and insight into the wealth sector. Working in over 200 countries, with teams of researchers and analysts in 15 offices worldwide, providing detailed analysis on the world's High Net Worth Individuals (HNWI) and producing business information which helps organisations to make informed decisions and win new business.
Headquartered in London, WealthInsight has a global reach, with offices in San Francisco, Mexico City, Buenos Aires, Madrid, Hyderabad, Hong Kong and Sydney.
Learn more about our services at: www.wealthinsight.comAbout SPEAR's
Spear's is the multi-award winning wealth management and luxury lifestyle brand whose magazine and website has become a must-read for the ultra high net worth community. It is also required reading for the affluent financial services community, including the bankers, lawyers and family offices who advise the rich. In 2015 Spear's launched its flagship Spear's 500 guide - www.spearswms.com
Press Release 2016