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The ranking takes into account the size of a city's wealthy population, specifically those with over $1 million and over $30 million in net assets.
The wealthy have the freedom to live wherever they like, but many choose cities where they have access to the business, investing, and lifestyle opportunities they desire.
The latest Knight Frank City Wealth Index features the usual suspects as well as some up-and-comers. The ranking takes into account the size of a city's wealthy population, specifically those with over $1 million and over $30 million in net assets.
It also considers investment opportunities, tallying major commercial and residential property investments by private individuals and family offices. The measure factors in the total volume of investment and the diversity of investors in terms of nationality.
Finally, the ranking reflects several lifestyle factors. These include the number and quality of universities, the safety of the city, and the volume of five-star hotels and leading restaurants.
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The top 20 cities on the index are below, in descending order:
