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July 25, 2014updated 14 Sep 2016 9:23am

Where the world’s millionaires live: the top 15 cities for millionaires in 2014

By Zahra Al-Kateb

London, Zurich and Hong Kong are rich in history, culture and, well, lots of rich people. Spear’s Magazine, a wealth management publication based in England, and WealthInsight, a research firm, conducted a survey, released earlier this week, that counted people with more than $1 million in assets, not including primary residences, and broke down which cities are home to the most millionaires.

They found that the rich and succesful not only tend to congregate in cities with vibrant nightlife and cultural scenes but also in investment and business capitals. More than half of the cities ranked in the study were also among the Global Financial Centres Index of the most important global financial hubs.

“Favourable tax and outstanding location are important criteria for attracting clusters of millionaires, but so too is ready access to wealth managers and private banks,” said a WealthInsight analyst Oliver Williams.

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