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Bloomberg: With its achievements in all fields and its unremitting efforts to secure well-being, the Emirate of Sharjah was crowned with the title of the city loved by the world’s rich, after leading the region’s countries in having millionaires from all over the world.

This comes from statistics, collected by the “New World Wealth”, along with “Henley & Partners Group”, which specialises in residency and citizenship programmes, showing that the Emirate of Sharjah in the UAE, with the capital of the Kingdom of Saudi Arabia, Riyadh, has the fastest growing millionaire population so far this year.

Henley & Partners Group, the world leader in residency and citizenship by investment, recently released a list of the world’s cities where most millionaires live.

Statistics, collected by the South African company “New World Wealth”, show that the Emirate of Sharjah, in the United Arab Emirates, with the capital of Saudi Arabia, Riyadh, has the fastest growing millionaires this year so far in the world.

Abu Dhabi and Dubai are also among the fastest growing cities in the number of millionaires, as the UAE attracts the wealthy with a low tax regime and new residency plans.

Half of the top ten cities with the largest number of millionaires are in the United States, but New York City lost 12% of net worth in the first half of 2022, while the San Francisco Bay Area saw an increase by 4%, and London, which ranks fourth, down by 9%.

Beijing and Shanghai, which rank ninth and tenth in the list of the richest cities, respectively, recorded losses, as Henley & Partners expects that China will witness the second largest outflow of wealth after Russia this year.