Representational image. (Pixabay)
Amid global trade tensions, slowing consumer spending, and rising geopolitical risks, Swiss wealth management group Julius Baer has released its Global Wealth and Lifestyle Report 2025, ranking the world’s cities based on their appeal to wealthy individuals “looking to live the good life.”
The report, published in July, shows that the top three cities remain the same as last year, though their positions have shifted slightly. Singapore retains the top spot for the third consecutive year, making it the world’s most expensive city for high-net-worth individuals (HNWIs). Known for its strong business environment, cosmopolitan lifestyle, and excellent global connectivity, Singapore continues to attract the wealthy from across the globe.
London has moved up to the second spot, overtaking Hong Kong, which now ranks third.
Two other Asian cities made significant jumps in the rankings. Bangkok climbed six positions to become the 11th most expensive city, while Tokyo rose six places to 17th. Dubai also made a comeback into the top ten, climbing five ranks, showing renewed appeal among wealthy residents. New York was the only American city to feature in the list.
Some cities experienced sharp declines. Shanghai, which topped the rankings in 2022, dropped from fourth to sixth place, while São Paulo fell from ninth to 16th globally.
In India, Mumbai retains its 20th spot. Despite rising prices in local currency and US dollars, the report notes that Mumbai remains relatively affordable compared to other cities in the index, particularly in sectors like hospitality and travel.
The Julius Baer Global Wealth and Lifestyle Report highlights how global economic shifts, local price changes, and city-specific advantages influence where the wealthy choose to live.
Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
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