Monaco Boasts Highest Percentage of Millionaires in the World

The city-state Monaco has the highest number of millionaires, compared to any other city in the world, a new study shows.

A total of 29.21% of Monaco's population is classed in this financial bracket, according to a survey by Spear's, in association with leading wealth consultancy company WealthInsight.

Not far behind come the Swiss banking centers Zurich (27.34%) and Geneva (17.92%) in second and third place, with key financial centers New York (4.63%) and Frankfurt (3.88%) in fourth and fifth.

The ranking includes also London (3.39%), Oslo (2.90%), Singapore (2.80%) and Amsterdam (2.63%).

French capital city Paris takes the last, 20th place in the international ranking with 2.04%.

WealthInsight defines millionaires as individuals with net assets of USD 1M or more, excluding their primary residences.