Metro Manila Among The Fastest Growing Cities For The Super Rich In Asia Pacific

Are you feeling flush? Is your bank account bursting at the seams? According to a new report, it should be: a group of consultants going by the name of New World Wealth has placed Manila in the top ten of the fastest growing cities for the super rich in Asia Pacific.

super-rich-cities-2Metro Manila is said to be home to almost 600 multi-millionaires with more than $10 million in the bank each

Ho Chi Minh City leads the list of the fastest growing cities for the super rich in Asia Pacific, with Manila sitting in 8th place, ahead of Chennai in India and Melbourne in Australia. China is listed separately due to the large number of super rich people living there, but other noteworthy cities include Jakarta in 2nd place and poor old Singapore in a measly 15th place.

According to the study, the number of multi millionaires worldwide has grown by 71% in the last ten years, with the number of super rich individuals (defined as an individual with net assets of at least US$10 million) living in Manila having increased by 205% over the last decade, from 190 to 580.

super-rich-cities-1Manila sits in 8th place,while Ho Chi Minh City has seen the biggest rise in dollar millionaires

The study gives no indications on how the information was compiled, but if this somewhat official number of multi-millionaires in Metro Manila stands at nearly 600, then it’s probably fair to say that the real number (the one that includes individuals you, me, and the BIR know nothing about) is probably quite a bit higher. In any case, it shows how things are changing and how the country is moving forward and upward on different fronts.