In 2025, the world’s wealthiest individuals continue to seek cities that combine luxury, global connectivity, and a high standard of living, according to the latest Julius Baer Global Wealth & Lifestyle Report.
Despite global economic challenges such as trade tensions and higher tariffs, affluent consumers are investing in premium lifestyles that offer safety, exclusivity, and world-class amenities.
Monaco to Dubai: Where the Ultra-Rich Prefer to Live
1. Singapore – The Ultimate Luxury Capital
For the third consecutive year, Singapore tops the list. Known for its spotless infrastructure, elite education, and cosmopolitan appeal, it remains the preferred destination for luxury living, though the cost of items like cars and designer handbags remains sky-high.
2. London – Europe’s Resurgent Jewel
London climbs back to second place, offering a blend of financial power, world-class education, and cosmopolitan living. The city remains expensive for private schooling, MBAs, and LASIK procedures, but its global appeal for business and lifestyle continues.
3. Hong Kong – Asia’s Billionaire Magnet
Despite slipping a spot, Hong Kong remains a financial fortress with low taxes and a thriving family office ecosystem. Luxury items like lawyers’ fees are high, though Champagne remains surprisingly affordable.
4. Monaco – The Billionaires’ Playground
Monaco dazzles with Riviera glamour, elite real estate, tax-free living, and celebrity neighbors. Property prices and MBA programs are costly, and business-class flights have seen a 30.4% rise, but the exclusivity keeps ultra-wealthy residents coming.
5. Zurich – Discreet Wealth, Premium Living
Zurich combines low taxes, global connectivity, and top-tier education. While MBAs are expensive, private schooling is comparatively affordable, attracting wealthy families seeking stability and privacy.
6. Shanghai – A Luxury Dining Heaven
Shanghai remains China’s luxury hub, particularly for fine dining, which is among the most expensive globally. Yet, Champagne and select luxury items remain accessible for the city’s affluent residents.
7. Dubai – The Comeback King
Dubai re-enters the Top 10, attracting millionaires with low taxes, golden visas, futuristic growth, and glamorous lifestyles. Champagne prices surged 33.6%, but business-class flights remain among the cheapest globally.
8. New York – Luxury in the Big Apple
New York is famed for the world’s priciest hotel suites, though luxury goods remain relatively affordable thanks to a strong USD, continuing to attract high-net-worth individuals.
9. Paris – The City of Chic Luxury
The Olympic tourism boom increased hotel-suite prices by 84%, yet Champagne and private school fees remain relatively accessible, keeping Paris on the ultra-rich radar.
10. Milan – Fashion and Affluence
Milan shines as a luxury fashion hub, with stable luxury prices and some of the world’s cheapest business-class flights, making it an attractive destination for HNWIs.
What This Means for the Ultra-Rich
The report highlights a clear trend: wealthy individuals are prioritizing tax-friendly hubs, global connectivity, political stability, and ultra-luxury experiences. Cities like Monaco, Dubai, Singapore, London, and Zurich are expected to remain the world’s premier luxury capitals through 2026.
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Sofia Babu Chacko is a journalist with over five years of experience covering Indian politics, crime, human rights, gender issues, and stories about marginalized communities. She believes that every voice matters, and journalism has a vital role to play in amplifying those voices. Sofia is committed to creating impact and shedding light on stories that truly matter. Beyond her work in the newsroom, she is also a music enthusiast who enjoys singing.
