Apr 19, 2023 03:51 AM

ECONOMY

Hong Kong Drops Behind Singapore in Ranking of World’s Richest Cities

Hong Kong now ranks No. 7, two spots behind Singapore.

Hong Kong now ranks No. 7, two spots behind Singapore.

(Bloomberg) — Hong Kong fell behind rival Singapore in a ranking of the world’s wealthiest cities.

The number of millionaires in Hong Kong dropped 27% to 129,500 between 2012 and 2022, while the total in Singapore grew 40% to 240,100, according to a list published by investment migration company Henley & Partners together with global wealth intelligence firm New World Wealth.

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