One in every three people in Monaco are millionaires, according to research into the cities of Europe that have the most high net worth individuals, with Zurich close behind.
London ranks fourth. Millionaires on its Mayfair streets and penthouses may be more numerous than Monaco, but they account for only one in every 29 of the capital?s citizens.
Edinburgh, ranked 16th, is the only other UK city to make it into the top 20, with an estimated one in 67 of its inhabitants a millionaire.
Consultancy company WealthInsight, who carried out the research in partnership with Spear?s Magazine, said Dublin was the surprise entry into the top 10, beating Paris, Berlin and Moscow.
?Dublin has a higher density of millionaires than many other European capitals. Most of these have earned their wealth from Dublin?s burgeoning tech scene, which has attracted talent from both Europe and the US,? said researcher Oliver Williams. The research is based on the number of people who have assets of more than $1m (£760,000) separate to the value of their main home.
?Monaco continues to add more millionaires per head of its population than anywhere else: it has seen its density go up by 6% since the last ranking two years ago. Such is the escalating exclusivity of the principality that only the ultra-wealthy are able to lay hands on Monégasque [from Monaco] passports,? said Williams.
Monaco?s reputation as a tax haven for billionaires has been emphasised by the continuing furore over Tina Green...