Edinburgh named in the top 20 cities for millionaires

Princes Street, Edinburgh.Picture; Jon Savage
Princes Street, Edinburgh.Picture; Jon Savage
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Edinburgh has been named in the top 20 cities to home millionaires, with the city having the second highest density of millionaires in the UK.

Placed 16th in Europe, and second in the UK behind London, the study from WealthInsight and Spears magazine suggested that one in 67 in Edinburgh were millionaires placing it ahead of many other European capitals such as Berlin and Vienna.

Perhaps unsurprisingly, Monaco had the highest percentage of high net worth individuals, with almost one in three inhabitants classed as a millionaire.

Monaco and Swiss banking centres Zurich and Geneva were in second and third place, while London was fifth with one in 20 deemed to be a millionaire.

READ MORE: Edinburgh voted best city in the UK for third year running

Edinburgh was one of the only new cities on the list.

The Capital beat out other leading European capitals including Paris, Madrid and Moscow.

On the findings Oliver Williams, Head of WealthInsight commented: “Monaco continues to add more millionaires per head of its population than anywhere else: It has seen its density go up by 6% since the last ranking two years ago. Such is the escalating exclusivity of the Principality that only the ultra-wealthy are able to lay hands on Monegasque passports.

“London’s financial strength has also seen it rise through the rankings; it now boasts more millionaires per head than Frankfurt despite being the second most populous city on the list after New York.

“Edinburgh has the UK’s second highest density of millionaires. Mirroring London in its combination of politics and finance, it also maintains a small overall population relative to other Scottish and English cities.”

Top 20 cities with highest density of high net worth individuals

1. Monaco

2. Zurich

3. Geneva

4. London

5. Oslo

6. Frankfurt

7. Amsterdam

8. Florence

9. Rome

10. Dublin

11. Venice

12. Paris

13. Brussels

14. Hamburg

15. Stockholm

16. Edinburgh

17. Vienna

18. Berlin

19. Moscow

20. Barcelona