Sunday 25 September 2016

Millionaire city: Dublin ranked 10th in Europe for big earners due to thriving tech scene

Catherine Devine

Published 28/07/2016 | 09:12

One in 40 people living in Dublin is a millionaire Photo: Getty
One in 40 people living in Dublin is a millionaire Photo: Getty

One in 40 people living in Dublin is a millionaire, a new study revealed.

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Dublin was ranked 10th on the list of European Cities with the most millionaires per capita, with almost 32,000 millionaires living in Dublin.

The survey revealed by Spear’s magazine and Wealth Insight shows that Monaco has the highest amount of millionaires with almost one in three classified as a millionaire.

Swiss banking centres Zurich and Geneva came second and third in the rankings.

London has moved up in the rankings to fifth overall, with one in 29 people named as millionaires.

Head of Wealth Insight Oliver Williams said Dublin has a higher density of millionaires than many other European capitals, including Paris, Madrid, Berlin and Moscow.

“Most of these have earned their wealth from Dublin’s burgeoning tech scene, which has attracted talent from both Europe and the US.”

Williams said that Monaco has more millionaires than anywhere else and has seen its density increase by 6pc in two years.

“Such is the escalating exclusivity of the Principality that only the ultra-wealthy are able to lay hands on Monegasque passports,” he said.

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