Why the wealthy aren’t tired of London after all
London may have dropped down the ranking of the most desirable cities for high-net-worth individuals to live, but its offering of stability, opportunity, lifestyle and long-term value still stands out, says Alan Hooks
“No, Sir, when a man is tired of London, he is tired of life.”
Samuel Johnson’s famous quote encapsulates why, despite dropping from second place in last year’s report to fifth place in our 2026 Global Wealth and Lifestyle Report, we should not dismiss London or question the city’s continued relevance to high-net-worth individuals.
Although the drop seems superficially concerning – especially after so narrowly missing out on the top spot last year and with steep competition from other cities on the list like Singapore, Zurich and Monaco – London’s value is more nuanced. We Brits can be rather cynical and inclined to complain about our shortcomings, but while Singapore, Zurich and Monaco might stand out because of their favourable legal, tax and regulatory systems, London’s appeal goes far beyond finance alone. While one of the defining factors in this year’s changing rankings was shifting currency dynamics London’s slip because of its link to the US dollar does not undermine its importance.
London’s continued appeal for high net-worth individuals remains strong and belies headline rankings. This more multi-dimensional approach reflects how high-net-worth individuals are assessing cities, allowing them to consider what differentiates London from the other cities in the ranking. London’s offering of stability, opportunity, lifestyle and long-term value is why the city stands out and will continue to do so.
London’s financial stability lies in the continuity of its institutions, which is also why London’s long-term value is often seen as a ‘safe bet’. The UK’s common law system remains a benchmark for legal certainty and allows for a well-regulated financial sector whose transparency, strong corporate governance and continued appeal to international capital stand out. Additionally, London is geographically well placed to bridge global markets, ensuring its enduring strategic relevance for continuous deal flow and portfolio oversight.
Beyond the financial advantage of international connectivity, this positioning increasingly reflects the family lives of high-net-worth individuals. We see families build multi-city lives in which capitals serve different purposes, rather than settling in one location. London not only bridges financial markets in Asia and the US, but being centrally located, acts as a shared base to connect families who are spread across the globe. Beyond the emotional and practical value this positioning brings, it also reflects the evolution of demographic patterns towards families being more diasporic, which directly affects how wealth managers engage with their clients.
Connecting generations
Some 80 per cent of high-net-worth families have members scattered across multiple countries and a rising life expectancy means they sometimes span four or five living generations. Each family member’s’ opinion must be respected and considered, meaning that wealth managers are evolving to ensure they foster continuity across generations. London’s geographic position can connect generations to ensure a family’s wealth has the crucial longevity it needs as we all live longer.
When considering this, education is an important factor. A significant part of London’s appeal lies in its academic institutions, which are critical in shaping the direction of the next generation, both for established wealthy families, as well as across the wider talent pool who go on to form considerable wealth. World class universities like the London School of Economics, Imperial College London and King’s College London foster an ecosystem of enterprise and innovation that continue to sustain London’s global relevance.
Rather than being concerned by London’s ranking falling, I agree with Johnson’s claim. High net-worth individuals are not tired of London at all, and I strongly believe the capital’s attractiveness will endure. Exciting hubs like Singapore and Monaco may outstrip London this year but they do not cancel out this great city’s timeless importance.
Alan Hooks is head of private clients at Julius Baer