Which countries do the rich like to visit? In this survey, we find out where rich people like to go to party and let off steam, where they go for romance, and which countries offer the best opportunities to match their entrepreneurial skills.
Some of the results were very surprising, while others, such as Paris, were always going to be a ‘shoe in’ for the best place for romance!
Here’s a quick snapshot:
Best for business? Shanghai.
For hedonism? New York.
For romance? Paris.
The top location in the Hot List, Maputo, ticks all the boxes!
After the top ten lists, you’ll find snapshots of some of the countries in the survey with ratings. The rating bar gives a score from one to ten, ten being the top mark and one being the lowest.
The Top Ten Places that the Entrepreneur Like to do business, interesting to see that 5 of the top 6 places are within Asia.
1: Shanghai
2: Hong Kong
3: Beijing
4: New York
5: Mumbai
6: Singapore
7: London
8: Sao Paulo
9: San Francisco
10: Palo Alto
The Top Ten Places for the Hedonist
1: New York
2: Hong Kong
3: Tokyo
4: Paris
5: London
6: Shanghai
7: Rio
8: Barcelona
9: Sydney
10: Dubai
The Top Ten places that the Rich Romantics like to go to
1: Paris
2: New York
3: London
4: Rome
5: Tokyo
6: Sydney
7: Shanghai
8: Hong Kong
9: San Francisco
10: Vancouver
Maputo, Mozambique
Would suit: Beach-loving, risk-hungry investors. Capital of one of Africa’s best-performing economies. Average GDP growth of 8% between 1996 and 2008. Similar expected in 2011. Busy port. $1.2bn waterfront redevelopment with five-star Radisson Blu hotel. Close to the best beaches on the Indian Ocean.
Macau, CHINA
Would suit: Gamblers. Dubbed Las Vegas of the Orient. World’s largest casino hub. Only legal gambling city in China. Casino revenue surged 33% in January. Luxury footprint more than doubled in 2010 as Cartier, Bvlgari, and Burberry opened stores for wealthy Chinese gamblers*. Exclusive hotels, including The Venetian and MGM Grand.
Rio de Janeiro, Brazil
Would suit: Glamour-seeking sports enthusiasts. The host city for the 2014 World Cup and 2016 Olympics. Development projects are numerous.
Copacabana’s Museum of Image and Sound, designed by New York architects Diller Scofidio + Renfro, opening 2011. Income growth of 6.2% and employment growth.
Baku, Azerbaijan
Would suit: Investors seeking a stake in abundant mineral resources. Azerbaijan’s profitable trade relationship with China has seen its capital prosper. Growing HNWI population. Luxury brands, including Bvlgari, Cartier and Gucci, opened stores in 2010*. The iconic Flame Towers complex from the Fairmont Hotel group opens this year.
Istanbul, Turkey
Would suit: Culture lovers. 2010 European Capital of Culture. Istancool annual festival of fashion, film, art and literature. Le Meridien Istanbul Etiler opening this year. World’s best-performing city in terms of income (5.5%) and employment growth (7.3%). Burberry opened three new stores in the city in 2010*.
Taipei, Taiwan
Would suit: Fans of skyscrapers and high-speed trains. Claimed to be the tallest building, Taipei 101, until Burj Dubai opened in 2010. Bullet trains cut travel times by 60% or more. Long-standing tension with China easing. 2010 trade pact was described as the most significant agreement in 60 years of separation. GDP forecast to grow 9.3%
Suzhou, China
Would suit: Wedding entrepreneurs. Close to Shanghai. Popular with overseas companies. Possibly the most affluent city in China.
Per-capita income is three times interior cities. Big silk producer and hub for wedding dress design, manufacturing and merchandising. Renowned market with 700 wedding-related outlets. Known as Venice of the East.
Ulan Bator, Mongolia
Would suit: Mining investors who like the cold. Temperatures can plummet to -50˚c. Louis Vuitton unexpectedly opened a two-storey shop in 2009*. Massive mineral reserves. Huge overseas investment interest. Predicted as next Asian Tiger economy or “Mongolian Wolf”. IMF predicts double-digit annual growth for years to come.
Astana, Kazakhstan
Would suit: Budding oil magnates. Key central Asia location. Huge energy resources. Capital city since 1997. Reported $30bn spent since. One of the world’s fastest-growing cities. Designated Special Economic Zone. A growing number of impressive architectural projects. World’s highest tensile structure, Norman Foster’s Khan Shatyr entertainment centre, opened in 2010.
Doha, Qatar
Would suit: Football fans looking for the next Gulf hot spot. World’s richest country per capita. Massive energy reserves. 2022 World Cup host. Official estimated infrastructure spend around $55bn in the next decade, but could reach $86.5bn. 2010 Arab Capital of Culture. Home to film festivals, museums and landmark architecture.
The lists above were reproduced with the permission of the 2011 Wealth Report by Knight Frank and City Private Bank. Country Information Sources: The Economist, Bloomberg, World Bank, IMF, *Ledbury Research www.ledburyresearch.com. All location ratings are arbitrary.
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