Singapore has been ranked fifth amongst the most important global and regional cities for consumers with a net worth of more than US$100 million (S$124.49 million).
This according to the Wealth Report 2012, a joint study by Knight Frank and Citibank, which polled high-net-worth individuals (HNWIs) from around the world to rank the cities and identify the areas with the fastest growth.
Respondents were also asked to rank cities based on quality of life, economic activity, political power as well as knowledge and influence.
London clinched top spot as the most important global city, followed by New York, Hong Kong, Paris and Singapore.
Over a 10-year period, respondents ranked London, New York, Beijing, Shanghai and Singapore as the top five cities.
However, HNWIs placed Beijing at the top of the ‘fastest growing in importance’ category, followed by Shanghai, London, Singapore and Hong Kong.
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