The above finding was highlighted in 2024 World's Wealthiest Cities Report, published annually by the leading international residence and citizenship by investment advisory firm Henley & Partners in collaboration with global data intelligence firm New World Wealth.

The report noted that Bengaluru (India), Scottsdale (U.S.), and Ho Chi Minh City have enjoyed exceptional growth rates of over 100 percent in their resident millionaire populations over the past ten years.

According to Henley & Partners, Ho Chi Minh City is among 10 major cities worldwide that have experienced especially strong wealth growth over the past decade (from 2012-2022).

The number of high-net-worth individuals (HNWIs) in HCMC increased 82 percent to 7,700, including 15 centi-millionaires and three billionaires.

"This city is emerging as Asia's next big millionaire hotspot. Rapidly expanding sectors include financial services, textiles, technology, electronics, telecoms, chemicals, and tourism," the report said./.VGP