by Sanjeev Sah | May 28, 2024 | Market Updates

Australia has become a magnet for the world’s super-rich, according to wealth migration specialists Henley & Partners. 

That’s after four Australian cities were listed among the firm’s top 50 wealthiest cities globally in 2024.   

The ranking is based on the number of resident high-net-worth individuals (HNWIs), who each have liquid assets of US$1 million or more. 

Sydney was ranked 8th with 147,000 HNWIs, followed by Melbourne at 15th, Perth at 34th, and Brisbane at 42nd. 

The report said Australia’s appeal was due in part to its proximity to Asia, its resource-rich economy, and its high quality of life.