Beijing’s tightening grip seen as driving exodus of wealth from Hong Kong
Singapore was home to 240,100 US dollar millionaires in 2022, up 40% from a decade earlier. (Photo: Bloomberg)
Hong Kong has fallen behind rival Singapore in a ranking of the world’s wealthiest cities, a new survey shows.
The number of US dollar millionaires in Hong Kong dropped 27% to 129,500 between 2012 and 2022, while the figure in the city-state grew 40% to 240,100, according to a list published by the investment migration company Henley & Partners.
Hong Kong now ranks seventh globally, two spots below Singapore. It ranked fourth in 2012, said the report, produced in partnership with the wealth intelligence firm New…
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