Top 10 fastest-growing millionaire hubs in 2025: 3 Indian cities among global 20

Henley & Partners’ analysis highlights that technology and friendly taxation policies are the foremost creators of wealth.

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Fastest-growing wealth hubs like Shenzhen, Hangzhou, and the Bay Area host large tech communities to attract HNWIs, while Dubai, Miami, and Singapore benefit from favourable or minimal taxation burdens.

These cities are experiencing significant wealth expansion, doubling their millionaire populations over the past decade.

Top 10 fastest-growing wealth hubs in the world

America continues to dominate with eight fastest-growing wealth centres. Sixteen Asian cities also feature on the list.

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Middle Eastern cities, especially within the UAE and Saudi Arabia, have established themselves as pivotal connections in contemporary wealth networks.

Rank	City/Area	Country	Millionaire Growth % (2014–2024)	Millionaires (USD 1M+)	Centi-Millionaires (USD 100M+)	Billionaires (USD 1Bn+)
1	Shenzhen	China	142%	50,800	156	22
2	Scottsdale	USA	125%	14,800	64	5
3	Bengaluru	India	120%	13,600	43	8
4	West Palm Beach	USA	112%	11,500	78	10
5	Hangzhou	China	108%	32,200	104	12
6	Dubai	UAE	102%	81,200	237	20
7	The Bay Area	USA	98%	342,400	756	82
8	Miami	USA	94%	38,800	180	17
9	Washington DC	USA	92%	28,900	97	12
10	Austin	USA	90%	32,000	90	10

Source: World’s Wealthiest Cities Report 2025

Please note: Rankings are as of December 2024, and all statistics are in USD terms. This table includes only cities with over 10,000 millionaire residents and accounts solely for individuals residing in each city. Millionaire figures have been rounded to the nearest 100.

India’s fastest-growing ‘wealth hubs’ in 2025

Bengaluru represents the country’s most rapidly expanding wealth hub, driven by its thriving tech industry and business environment, which generates new millionaires consistently and impressively. (Source: CoWorker)

The Silicon Valley of India, Bengaluru, ranked at #3 with 120% millionaire growth, has emerged as one of the fastest-growing wealth hubs globally and in India in the last decade, the report highlights.

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Furthermore, the capital city and financial capital, Delhi and Mumbai, ranked #14 and #18 globally, have demonstrated strong growth of 82% and 69% growth, respectively, in millionaires over the last ten years.

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Global Rank	City	Millionaire Growth % (2014–2024)	Millionaires (USD 1M+)	Centi-Millionaires (USD 100M+)	Billionaires (USD 1Bn+)
3	Bengaluru	120%	13,600	43	8
14	Delhi	82%	31,200	125	16
18	Mumbai	69%	51,200	205	25

Source: World’s Wealthiest Cities Report 2025