Hong Kong ranks behind Dubai, Singapore in list of top destinations for the rich



Hong Kong ranks fourth globally as a destination for high net worth individuals (HNWIs) thanks to its robust business and economic fundamentals as well as its educational credentials, but trails perennial rival Singapore, according to a Savills study.

Dubai took the top spot, followed by New York and then Singapore, with Abu Dhabi in fifth, the consultancy said in its inaugural HNWI Hotspot Index, released on Tuesday.

The report analysed nearly 100 destinations on five metrics: business environment and wealth clustering, family infrastructure and cost, legacy planning, lifestyle, and privacy.

“Each of these cities offers the full suite of strong business and family environments, legal structures that make redistributing straightforward, strong lifestyle provisions and high levels of security and privacy,” the study said.

Savills did not disclose its exact definition of an HNWI, but the term commonly means a person with more than US$1 million of highly liquid assets.

In 2024, more than 680,000 individuals were minted as new US-dollar millionaires, the study said. By 2029, 5 million more are expected to join their ranks, an increase of about 9 per cent over 2024 levels.

  • Related Posts

    How Changan Automobile’s design-driven brand strategy shapes its global expansion plans

    Long seen as one of China’s traditional “big four” state-owned vehicle manufacturers, Changan Automobile, which has a history that dates back to 1862 but began to produce its own eponymous-branded…

    Continue reading
    Alibaba teases new Qwen previews, highest-ranking Chinese AI models on Arena

    The new model previews, the Qwen3.7-Max-Preview and the Qwen3.7-Plus-Preview, ranked 13th globally in text capabilities and 16th in vision capabilities, respectively, benchmark firm LM Arena said on Tuesday. The versions…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *