According to a new report, Nairobi is ranked the fourth-richest city in Africa and has many high-net-worth individuals (HNWI).
Cairo in Egypt is number one, followed by Cape Town in South Africa (two) and Lagos in Nigeria (three).
According to the most recent Henley & Partner World's Wealthiest Cities Report 2023, the number of HNWI in the country increased by 30% over the previous ten years.
Additionally, it demonstrates that there are 11 billionaires and 4,700 centimillionaires in East Africa.
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Mombasa is also quickly becoming a popular HNWI destination; the seaside city is ranked 93rd worldwide.
More than Nairobi's, its HNWI climbed by 35% between 2012 and 2022.
The reason for its presence on the list is that it is a popular holiday destination that attracts some of the richest people in the country and the world.
The world's wealthiest city is New York, in the United States, with Tokyo, Japan, London, the United Kingdom, Singapore, Hong Kong, and Sydney, Australia, following.
“New York City wears the crown as the world’s top city with the most millionaires in 2023,” the report states.
"Seven of the World’s Top 10 cities are in countries that host formal investment migration programs and actively encourage foreign direct investment in return for residence or citizenship rights.”
The HNWI population data covered 97 cities in Africa, Australasia, the CIS, East Asia, Europe, the Middle East, North America, South Asia, and Southeast Asia.
The data was supplied by wealth intelligence firm New World Wealth, an independent wealth research firm that tracks global wealth migration trends between countries and cities.
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