Dar es Salaam Ranks 85th in Global Wealth and 12th in Africa
Due to a 20% increase in HNWIs over the past decade, Dar es Salaam is the 85th wealthiest city in the world and 12th in Africa.
According to the World’s Wealthiest Cities, 2023 report by New World Wealth and Henley Partners, Tanzania’s commercial capital city has one of the world’s fastest-growing millionaire populations.
The most recent report that tracks private wealth migration trends worldwide reveals that Dar es Salaam is home to 1,400 individuals with at least $1 million in net worth, 4 centi-millionaires (individuals with a net worth of over $100 million), and one dollar billionaire.
The report includes exclusive data highlighting 97 of the world’s wealthiest and fastest-growing cities with the most millionaires, centi-millionaires, and billionaires, as well as global and real estate insights from leading academic and industry experts.
Dar es Salaam is now ranked 12th in Africa, behind Luanda, Accra, Pretoria (SA), Cape Town (SA), Casablanca (Morocco), Nairobi (Kenya), Cairo (Egypt), Johannesburg (SA), Durban (SA), Cape Winelands (SA), and Garden Route (SA).
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Johannesburg had the most millionaires in Africa at 14,600 dollars.
This is a decrease from the 15200 millionaires in the report for 2022.
Cairo, the capital of Egypt, ranked second with 7,800 HNWIs, a decrease from the previous report’s figure of 7,400.
Cape Town, the second-largest city in South Africa, had 7,200 millionaires, followed by Lagos, Nigeria’s largest city, with 5,400 HNWI.
Africa has fewer dollar millionaires due to the global recession, a lack of foreign currency, rising inflation in most economies.
These economic challenges highlight the difficulties investors face in an inflation-driven, challenging business environment.
The report found that Rwanda’s capital, Kigali, was Africa’s fastest-growing market for millionaires and wealth over the past decade.
Dar es Salaam Ranks 85th in Global Wealth and 12th in Africa
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