According to the latest report by a research origination named Wealth-X, Hong Kong has beaten New York in being the city of the world that houses the greatest number of ultra-rich people. The Asian country, which is a financial hub of Asia, has become a place where the richest people of the earth reside. The number has risen to 10,000.
The latest report therein details that since last year China has seen a 31% rise in the number of ultra-rich people residing. Interestingly, in Hong Kong, among every 7 people, one is a millionaire. This means that there are more than one million millionaires residing there!
New York has lost its long owned title of housing the most number of rich people of the world. The New York is now the runner-up with 9,000 rich people residing therein.
Why do all these crazy rich people choose Hong Kong?
Since long, Hong Kong has been attracting Rich of the world and it has become a gateway to the Chinese economy. It is Asia’s most popular country and is the best place where one can go for networking, trading and for last but the best of all: one can access the greatest markets of China.
Why do foreigners like to start a business in Hong Kong?
Hong Kong has set up the most relaxing policies for business startups. A businessman can own the whole business without complying with requirements of being a resident or so.
It is the least corrupt place of world making foreigners attracted to the place for starting a business. The safe business environment tends to appeal the wealthy businessmen.
Hong Kong also has the credit of exhibiting the most expensive market, the elite and the wealthy tend to invest there. Hong Kong is now home to 50 rich people of Asia.
These 50 rich and elite people have a combined worth of £235 billion.