Knight Frank has recently published its 13th Edition of The Wealth Report. In this report, the 2019 Knight Frank City Wealth Index takes on a microscopic view on the performance of the world’s leading cities to reveal the top 20 cities in the wealth, investment and lifestyle categories.
Moving in an upward trajectory, Asia has outshined its peers in the overall ranking, with seven out of the top 20 spots occupied by cities in the Asia-Pacific region. Notably, both Hong Kong and Singapore placed third and fourth positions in the wealth, lifestyle and overall ranking, demonstrating growing prominence.
In the Investment category, North America outperformed the rest with New York topping the chart while five other US cities secured a spot in the top ten. Despite trailing behind New York to place second, London remains dominant for diversity of investors, ranking top in the wealth category. With the world’s largest UHNWI (Ultra-high net-worth individuals) population at 4,944, London continues to lead against its closest rival, surpassing New York in the Lifestyle category and ultimately coming first in the overall ranking.
Will London be on a winning streak yet again in 2020 or will it be defeated by New York? Will Asia posed greater threat to its competitors to be a game changer? Only time will tell.