World’s best luxury cities to live and shop

These ten cities stand for far more than financial power. They function as complete ecosystems of wealth, culture, influence, and lifestyle—places where the world’s elite enjoy refined living while remaining connected to global networks and opportunities.

Luxury is no longer defined solely by money. It’s shaped by where that money is spent, the quality of experiences it unlocks, and the level of comfort and exclusivity it provides. With nearly 55 million people across the globe now possessing assets exceeding $1 million, the demand for destinations offering exceptional dining, exclusive shopping, and elevated daily living has never been higher.

According to the latest Global Luxury Index by JB.com, these ten cities set the benchmark for opulence in 2025. From Michelin-starred culinary scenes and private members’ clubs to haute couture boutiques and spectacular waterfront residences, each destination offers more than wealth—it delivers curated sophistication, international influence, and a way of life that only a select few can access.

Let’s explore the cities the ultra-wealthy truly call home.

1. Paris

Paris leads the Global Luxury Index for 2025, and its top ranking comes as no surprise. Home to nearly 900 fine-dining establishments, around 150 five-star hotels, and the flagship boutiques of legendary fashion houses such as Chanel and Louis Vuitton, the French capital continues to define modern luxury.

Every arrondissement seems to offer a Michelin-starred dining experience, while the city’s timeless architecture blends effortlessly with contemporary sophistication. Paris delivers a sense of refinement that feels natural rather than forced. Whether it’s a private after-hours tour of the Louvre or an invitation-only runway show during Paris Fashion Week, the city provides exclusive experiences shaped not just by wealth, but by deep cultural heritage.

The influence of Bernard Arnault—chairman and CEO of LVMH, the world’s most powerful luxury conglomerate—captures the essence of Parisian opulence. Through brands including Louis Vuitton, Dior, and Moët & Chandon, his empire defines global luxury trends. With a personal fortune valued in the hundreds of billions, Arnault’s impact extends far beyond the city, reinforcing Paris’s position as the heartbeat of luxury worldwide.

2. Melbourne

Melbourne secures the second spot on the Global Luxury Index, an impressive achievement for a Southern Hemisphere city often compared to its glossier neighbour, Sydney. Yet Melbourne’s blend of understated sophistication and laid-back elegance sets it apart on the world stage.

The city boasts 279 upscale restaurants, 125 luxury hotels, and 143 premium boutiques. With an affluent population of around 94,000 millionaires, Melbourne supports a thriving high-end lifestyle—complete with world-class entertainment venues, 13 casinos, and a cultural landscape that rivals many major European hubs.

Gina Rinehart, recognised by Forbes as Australia’s wealthiest individual, exemplifies the scale of prosperity that shapes the nation’s elite. Her vast mining empire reflects the resource-driven wealth that has fuelled Australia’s contemporary economic success and strengthened Melbourne’s position as a global luxury destination.

3. Zurich

Zurich embodies something increasingly uncommon in the modern world—quiet, deeply rooted wealth. The city has an extraordinary concentration of affluence, with around 17,700 millionaires per 100,000 residents, making it the highest density of wealthy individuals anywhere on the planet.

Switzerland’s political stability, breathtaking alpine scenery, luxury shopping streets, and renowned private banking sector create a haven where the ultra-wealthy can enjoy a refined lifestyle without any need for ostentation. Zurich’s allure lies in its subtle sophistication. There are no extravagant displays or attention-seeking extravagance—just a serene, understated prosperity that permeates every meticulously kept street.

Klaus-Michael Kühne, the logistics titan behind Kühne + Nagel, is frequently regarded as Switzerland’s richest individual. Although he lives in Canton Schwyz, his financial influence and business footprint play a significant role in shaping Zurich’s powerful economic landscape.

4. Miami

Miami’s luxury appeal is impossible to overlook. With glamorous beach clubs, striking waterfront estates, and more than 120 acclaimed fine-dining restaurants, the city has evolved into a tropical haven for those seeking sun-drenched indulgence with a sophisticated twist.

Over the past decade, Miami has seen its millionaire population surge by an impressive 94%. This rapid growth is fuelled by affluent movers from high-tax American states as well as international investors drawn to the city’s favourable tax policies and vibrant coastal lifestyle. Prime ocean-front residences and waterfront mansions in areas such as Miami Beach and Coral Gables routinely command prices between $10 million and $50 million.

Peter Thiel—renowned tech entrepreneur and investor—is one of the most prominent figures in Miami’s billionaire community. His move to the city highlights its growing reputation as a magnet for crypto-aligned wealth, libertarian-leaning investors, and global capital seeking sunshine, lifestyle, and financial advantages.

5. New York City

New York City remains one of the world’s most influential financial capitals, home to an estimated 384,000 millionaires, 818 centi-millionaires (individuals with wealth exceeding $100 million), and 66 billionaires.

Even with rising living costs and its share of urban challenges, the city’s allure for the ultra-wealthy endures. Wall Street, landmark real estate, Broadway’s iconic theatres, world-renowned museums, and unparalleled cultural impact ensure that New York continues to sit at the heart of global prosperity and power.

The city boasts more than 400 fine-dining restaurants, a collection of exclusive private members’ clubs, and penthouses with price tags deep into eight figures. Premium property averages around $27,500 per square metre, making it some of the most valuable real estate in the world. From the glamour of the Met Gala to intimate rooftop dining with views over Central Park, New York offers experiences that set the global standard for luxury living.

6. Los Angeles 

Los Angeles captures a distinctive balance between Hollywood glamour and understated affluence. The city is home to approximately 212,100 millionaires, 516 centi-millionaires, and 43 billionaires—making it one of the most concentrated hubs of wealth in the world.

High-end estates, invitation-only clubs, and boutique-style luxury shape the lifestyle of LA’s elite. Unlike destinations known for overt displays of wealth, Los Angeles leans towards privacy, exclusivity, and highly personalised experiences. Whether it’s a contemporary beach house in Malibu or a grand estate in Beverly Hills, the city caters to individuals who prefer luxury away from the spotlight.

While the entertainment industry continues to be a core generator of wealth, a surge of tech founders, start-up executives, and venture capital investors has reshaped the city’s modern affluent landscape—quietly expanding LA’s status beyond Hollywood and into global economic influence.

 

 

7. Milan

Milan ranks seventh on the Global Luxury Index, and its identity is inseparable from style. With 193 gourmet restaurants, 76 luxury boutiques, and design excellence embedded into every street, the city offers an atmosphere where elegance feels effortless.

From high fashion to fine dining, Milan delivers a lifestyle that embodies quintessential Italian sophistication. As the world’s fashion capital, it hosts the iconic flagship boutiques of Prada, Gucci, Versace, and Armani, while its Michelin-starred restaurants reinterpret Italian cuisine with modern creativity.

Although Bernard Arnault is based in Paris, his LVMH portfolio remains highly influential in Milan, shaping much of the city’s luxury landscape through brands that continue to define its fashion-focused identity.

Singapore takes the eighth position on the Global Luxury Index, supported by an impressive 242,000 millionaires, 450 fine-dining restaurants, and six casinos. Once regarded primarily as Asia’s financial hub, the city-state has evolved into one of the world’s leading luxury destinations.

With political stability, outstanding healthcare, exceptionally low crime rates, and business-friendly regulations, Singapore has become irresistible to high-net-worth individuals across the globe. The absence of capital gains tax, combined with an impeccably organised and pristine urban environment, has positioned the city as the preferred Asian base for the ultra-wealthy.

According to the Julius Baer Lifestyle Index, Singapore ranks as the world’s most expensive city for luxury spending — holding the top spot for the third year in a row. Eduardo Saverin, co-founder of Facebook, is the wealthiest resident in Singapore, and his move from Silicon Valley perfectly illustrates the city-state’s appeal for tech magnates and global entrepreneurs.

9. Seoul

Seoul has quickly risen into the ranks of global luxury capitals, powered by more than 350 high-end dining venues and a flourishing high-fashion industry. The city attracts modern entrepreneurs, cultural icons, and tech leaders who desire a sophisticated lifestyle that blends deep tradition with cutting-edge innovation.

Much of Seoul’s ultra-wealthy community is connected to South Korea’s powerful technology sector — from global gaming giants to large industrial conglomerates — along with the soaring international influence of K-pop, film, and entertainment. This unique mix of cultural and economic power has reshaped the city’s global identity.

Seoul’s evolution signals a wider shift in global wealth distribution, where Asian powerhouses increasingly rival — and in some areas exceed — Western capitals in terms of luxury experiences, millionaire density, and cultural prestige.

10. London

London completes the top ten with its unmistakable, timeless sense of elegance. The city features more than 400 fine-dining establishments, prestigious districts such as Mayfair and Knightsbridge, and a long-standing legacy of global influence that continues to draw substantial international wealth.

With around 2,200 millionaires per 100,000 residents, London remains both a cultural and financial powerhouse, even as some affluent individuals have moved elsewhere for tax advantages. The British capital retains an unparalleled ability to attract high-value investors, entrepreneurs, and cultural leaders from around the world.

Premium property in London averages roughly $24,000 per square metre, while Michelin-starred restaurants and private members’ clubs anchor its luxury lifestyle. From bespoke tailoring on Savile Row to exclusive after-hours tours at the British Museum, London delivers a heritage-rich brand of luxury that very few global cities can hope to rival.