Where are you most likely to meet a multi-millionaire?

Ever wanted to meet a multi-millionaire? You may know some or be one yourself but for most ordinary mortals, the chances of meeting an Ultra High Net Worth Individual (UHNWI) is fairly slight.

However, in order to improve your chances and at the same time provide some valuable insight in to the shifting patterns of global wealth and where your multi-millionaire investors may live, the recent research by leading real estate consultant Knight Frank could make for good reading.

In their 2015 Global Cities Survey, they concluded that the top ten locations of most importance in the eyes of UHNWIs were headed by London, New York and Hong Kong. Looking ahead the next ten years to 2025 and New York was expected to pip London to the top spot but the first three would remain the same.

In terms of growth in numbers of the super-rich however, Singapore, Hong Kong and New York were projected to claim the top three spots over the period 2014 to 2024 boasting an aggregate of just over 4,000 new-wealthy between them.

In the hear-and-now however, the UK’s capital city has within its boundaries the highest number of current UHNWIs with 4,361 having been counted at the end of 2014. Tokyo was some 800 behind London with Singapore, New York and Hong Kong taking third, fourth and fifth places respectively.

What is interesting is their future projections seem to confirm that Asian cities are set to feature highly in future years. Does this forecast good times ahead for the emerging economies and should European and North American investment managers be seeking more clients in the region?

This is something to consider but it may require more than simply re-packaging your current propositions into Mandarin or Cantonese. Understanding the Eastern psyche, aspirations and expectations may be key to good prospects in these newer economies.

Data: Knight Frank and WealthInsight

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