Lagos has been placed in 72nd position in new list of the world’s wealthiest cities in 2023, with New York, Japan’s Tokyo, and Silicon Valley’s Bay Area claiming the first, second, and third spots, respectively.
The list, compiled by London-based consultancy Henley & Partners, ranked the cities by taking into account the number of resident millionaires (rounded off to the neared 1o0) as of December 31, 2022.
It was dominated by cities in the United States and China — Lagos is the only Nigerian city that got featured in the list, with South Africa’s Johannesburg ranked the wealthiest city in Africa.
The World’s Wealthiest Cities Report 2023 covered 97 cities across the world, using data from wealth intelligence firm, New World Wealth, which tracks the movements and spending habits of high-net-worth individuals with the work titles like Founder, Chairperson, CEO, and Director.
It also considered the number of highly-priced homes in the area, said Henley & Partners, on their website.
Rank City Country No. of High Net Worth Individuals
1 New York City United States 340,000
2 Tokyo Japan 290,300
3 The Bay Area United States 285,000
4 London United Kingdom 258,000
5 Singapore Singapore 240,100
6 Los Angeles United States 205,400
7 Hong Kong SAR China 129,500
8 Beijing China 128,200
9 Shanghai China 127,200
10 Sydney Australia 126,900
11 Chicago United States 124,000
12 Toronto Canada 105,200
13 Frankfurt Germany 102,200
14 Zurich Switzerland 99,300
15 Houston United States 98,500
16 Seoul South Korea 97,000
17 Melbourne Australia 96,000
18 Paris France 93,000
19 Geneva Switzerland 85,800
20 Dubai UAE 68,400
21 Mumbai India 59,400
22 Rome Italy 56,500
23 Seattle United States 50,500
24 Shenzhen China 45,700
25 Osaka Japan 44,900
26 Boston United States 41,700
27 Kyoto Japan 40,400
28 Miami United States 38,000
29 Vancouver Canada 37,300
30 Tel Aviv Israel 35,600
31 Moscow Russia 35,200
32 Perth Australia 33,900
33 Brisbane Australia 31,900
34 Austin United States 30,500
35 Hangzhou China 30,400
36 Delhi India 30,200
37 Madrid Spain 29,000
38 Auckland Australia 24,500
39 Abu Dhabi UAE 24,200
40 Manchester United Kingdom 24,200
41 Nice France 23,900
42 Guangzhou China 23,500
43 Athens Greece 23,100
44 Doha Qatar 21,500
45 Lisbon Portugal 20,800
46 Dublin Ireland 18,400
47 Riyadh Saudi Arabia 18,100
48 Montreal Canada 17,900
49 Monaco Monaco 17,600
50 Las Vegas United States 16,800
51 Istanbul Turkey 16,300
52 Warsaw Poland 15,100
53 Jerusalem Israel 15,100
54 San Diego United States 14,700
55 Calgary Canada 14,700
56 Johannesburg South Africa 14,600
57 Scottsdale United States 13,900
58 Barcelona Spain 13,300
59 Milan Italy 12,600
60 Bengaluru India 12,600
61 Edinburgh United Kingdom 12,400
62 Santa Barbara & Montecito United States 12,300
63 Kolkata India 12,100
64 Greenwich & Darien United States 11,900
65 Hyderabad India 11,100
66 West Palm Beach United States 9,400
67 Ho Chi Minh City Vietnam 7,700
68 Florence Italy 7,500
69 Cairo Egypt 7,400
70 Cape Town South Africa 7,200
71 St. Petersburg Russia 6,900
72 Lagos Nigeria 5,400
73 Budapest Hungary 5,300
74 Nairobi Kenya 4,700
75 Netanya Israel 4,300
76 Herzliya Israel 3,900
77 Sharjah UAE 3,800
78 Durban South Africa 3,600
79 Cape Winelands South Africa 3,400
80 Garden Route South Africa 3,000
81 Casablanca Morocco 2,800
82 Pretoria South Africa 2,400
83 Accra Ghana 2,000
84 Luanda Angola 1,800
85 Dar Es Salaam Tanzania 1,400
86 Whale Coast South Africa 1,100
87 Windhoek Namibia 1,100
88 Marrakech Morocco 900
89 Addis Ababa Ethiopia 800
90 Kigali Rwanda 800
91 Maputo Mozambique 800
92 Mombasa Kenya 700
93 Tangier Morocco 700
94 Lusaka Zambia 600
95 Swakopmund Namibia 300
96 Walvis Bay Namibia 300
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