Cities Where Money Can Buy The Megarich Happiness

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The saying goes money can’t always buy happiness, and for the most part that seems true in a new global city wellbeing index.

International property consultants Knight Frank have produced a wealth report for 2020 that charts the fortunes and lifestyles of the megarich and the places where they feel the happiest.

One of the takeaways is the new city wellbeing index excludes most of the countries with the largest populations of millionaires.

Around half of the world’s 513,000 wealthy live in the USA, but no American cities make the cut in the wellbeing index.

Another one in eight live in China, which has no entries in the rankings either.

Instead, seven of the top eight happiest nations are smaller countries in Europe, with Oslo, Norway, topping the list, followed by Switzerland’s Zurich and Helsinki, Finland.

Focus on wellness

Sydney, Australia, is the only non-European country breaking into the top eight.

“The Wealth Report Attitudes Survey shows that 80% of UHNWIs are dedicating more of their time and money to their own wellbeing. But the concept of wellbeing, or wellness, is far wider than individual health and happiness. 

“There is a growing focus on wellness as a measure of national performance: something that has in the past been assessed in purely economic terms, generally measured in the form of GDP. However, there is no universally accepted method of measuring wellbeing, nor how it pertains to wealth creation.

“We therefore decided to develop our own index using eight measures to identify those urban centres that are enabling citizens to achieve a higher level of wellbeing.”

The research monitored aspects of each city like hours of sunshine a year, green spaces and time off work.

The world’s happiest cities for the wealthy

RankCityCountry
1OsloNorway
2ZurichSwitzerland
3HelsinkiFinland
4ViennaAustria
5MadridSpain
6StockholmSweden
7SydneyAustralia
8AmsterdamNetherlands
9MontrealCanada
10SingaporeSingapore
11MelbourneAustralia
12BerlinGermany
13TorontoCanada
14SeoulSouth Korea
15DubaiUnited Arab Emirates
16LisbonPortugal
17Hong KongHong Kong
18RomeItaly
19EdinburghUK
20MilanItaly
Source: Knight Frank

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