- Shanghai has been named the ninth-most millionaire-populated city worldwide in a report by New World Wealth.
- Prada, the renowned Italian luxury fashion house, has opened its highly anticipated exhibition, Pradasphere II, in Shanghai.
- Luxury living and culture have helped the city to increase its millionaire population by 72% since 2021.
According to a report by Henley & Partners and New World Wealth, Shanghai is ninth on the list for cities with the most millionaires as of Q3 2023. The city is attracting wealthy internationals due to its luxury residences and cultural activities.
According to the report, Shanghai currently has 127,000 millionaires, 332 centi-millionaires and 40 billionaires, and is home to the third-largest stock market in the world, the Shanghai Stock Exchange.
Among the city's cultural offerings is Prada's latest exclusive exhibition, Pradasphere II, which aims to attract fashion enthusiasts from across the globe.
Set to run from 7 December 2023 to 21 January 2024 at the Start Museum in Shanghai’s Xuhui District, visitors have the opportunity to explore Prada’s rich history, as well as its vision for the future.
International millionaires looking to move to Shanghai and live in luxury residences should use a secure online money transfer service when making international payments.
As a public exhibition, co-creative directors Miuccia Prada and Raf Simons have noted that fashion enthusiasts will be able to access all the historical elements of the exhibition and learn about the brand’s rich 110-year history and far-reaching influences beyond the realm of fashion.
Set against the picturesque backdrop of the Huangpu River, the exhibition features more than 400 physical and digital artifacts from Prada’s archives in architecture, art, sport and culture.
Prada and Simons have also suggested that exclusive luxury items will be available after the exhibition has finished in January 2024, with potential auctions full of high-end, one-of-a-kind Prada items.
Harrods, the English luxury department store, has also opened the first Harrods private members’ club in Shanghai, with joining fees starting at $21,000 for wealthy individuals.
The high-end department store has collaborated with luxury fashion brand Valentino to bring an extravagant experience to its guests at the Piano Bar at Cha House, Shanghai.
Both Prada and Valentino are synonymous with luxury and affluent living. Prada’s exclusive exhibition is set to begin with a collaboration with renowned artist Damien Hirst.
UK high net-worth individuals (HNWIs) hoping to visit Shanghai and experience its luxurious culture should take advantage of safe international money transfer options when booking trips.
International HNWIs can use our online money transfer comparison tool to find the best exchange rates.
