Toronto has been ranked as one of the wealthiest cities in the world, placing 13th in Henley and Partners’ 2024 World’s Wealthiest Cities Report. This designation highlights the city as a flourishing hub for millionaires, with a notable 25% increase in its millionaire population from 2013 to 2023, bringing the total to 106,300.
Vancouver also made the list, securing the 31st spot. This city has seen a significant 50% growth in millionaire residents over the past decade, totaling 41,400. However, when it comes to billionaires, Vancouver hosts just eight, compared to Toronto’s 18.
Globally, New York City leads with the highest number of millionaires, boasting an impressive 349,500. The United States dominates the list with 11 cities including New York, the Bay Area, and Los Angeles. China also shows strong representation with five cities, including Beijing and Shanghai, both witnessing substantial millionaire population growth.
This report underscores the increasing concentration of wealth in specific urban centers around the world, reflecting broader economic trends and shifts.