According to a new survey, Nairobi is the fourth-richest city in Africa, with a large concentration of high-net-worth individuals (HNWI).
Kenya’s capital center is second only to Cairo in Egypt, followed by Cape Town in South Africa (two) and Lagos in Nigeria (three).
According to the current Henley & Partners World’s Wealthiest Cities Report 2023, the country’s HNWI population has increased by 30% in the last decade.
It also reveals that the East African country has 4,700 US dollar centimillionaires and 11 billionaires.
Mombasa is likewise rising as a prominent HNWI destination, with the seaside city placing 93rd worldwide.
Its HNWI increased by 35% between 2012 and 2022, which is more than Nairobi’s.
Its inclusion on the list is due to its popularity as a tourism destination that attracts the wealthiest people in the country and around the world.
Globally, the wealthiest city is New York in the United States, followed by Tokyo in Japan, London in the United Kingdom, Singapore in Singapore, Hong Kong in Hong Kong, and Sydney in Australia.
“New York City will be the world’s top city with the most millionaires in 2023,” according to the survey.
“Seven of the top ten cities in the world are located in countries that host formal investment migration programs and actively encourage foreign direct investment in exchange for residence or citizenship rights.”
97 cities in Africa, Australasia, the CIS, East Asia, Europe, the Middle East, North America, South Asia, and Southeast Asia were covered by the HNWI population data.
New World Wealth, an independent wealth research business that studies global wealth mobility trends between countries and cities, provided the data.
In its in-house database, it tracks the movements and spending habits of approximately 150,000 HNWI (with a special emphasis on persons with more than $10 million in investable assets).
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