Shanghai and Beijing could rival New York and London to become the top cities for the world’s billionaires in ten years, according to a recent survey by global real estate firm Knight Frank. They surveyed 5,000 individuals with wealth of over $1 billion.
While New York and London won’t be knocked off their top two spots over the next decade, Shanghai and Beijing are expected to climb to become the third and fourth choices for billionaires.
Interestingly, some of the established Asian cities, such as Singapore, Hong Kong and Tokyo, are at risk of declining compared to China’s rising stars, especially Shanghai.
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