Ho Chi Minh City has been ranked ninth among the top 10 fastest-growing cities for the super-wealthy in the world over the past decade (2012-2020).

According to a new report released by leading global international residence and citizenship by investment advisory firm Henley & Partners, the southern city is emerging as Asia’s next big millionaire hotspot.

Its number of high-net-worth individuals jumped 82 per cent over the past decade to 7,700, including 15 centi-millionaires and three billionaires.

Rapidly expanding sectors in the city include financial services, textiles, technology, electronics, telecoms, chemicals, and tourism, according to the report.

From 2010 to 2020, the city’s economy grew 2.7-fold and its GRDP doubled.

GRDP increased 9.03 per cent year-on-year in 2022 and exceeded its target of 6-6.5 per cent. Export revenue hit $49.5 billion, a year-on-year increase of 10.3 per cent.

Hangzhou city in China topped the list, followed by Austin in the US and Shenzhen in China.