Nairobi, the capital of Kenya has been ranked as the fourth-richest city in Africa, 74th in the world, with a high number of high-net-worth individuals (HNWI), a new Henley & Partner World’s Wealthiest Cities Report 2023 shows.
Cairo in Egypt sits at number one, 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, Kenya’s HNWI population has increased by 30% in the previous decade.
It also reveals that the East African country has 4,700 US dollars cent millionaires 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 attraction that draws the wealthiest people in the country and throughout the world.
Globally, New York in the United States is the richest city, 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 wears the crown as the world’s top city with the most millionaires in 2023,” the report states.
“Seven of the World’s Top 10 cities listed are in countries that host formal investment migration programs and actively encourage foreign direct investment in return 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 statistics.
New World Wealth, an independent wealth research business that studies global wealth mobility trends across nations and cities, provided the data.
In its in-house database, it follows the movements and spending patterns of approximately 150,000 HNWI (with a specific emphasis on persons with more than $10 million in investable assets).
Kenya: Nairobi Ranked 4th Richest African City, 74th Globally
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