Luxembourg among the world's super-rich capitals

Luxembourg is ranked 50th in a global ranking of cities with the largest number of residents with wealth in excess of $100 million in liquid form, according to a report published by analytical company New World Wealth in conjunction with consulting firm Henley & Partners.

At the time of the survey, there are at least 70 so-called "centi-millionaires" in the capital of the Grand Duchy, i.e. persons whose wealth in cash, stocks, bonds and business shares exceeds the specified amount. This does not include real estate assets, which is particularly important in Luxembourg, one of the most expensive housing markets in Europe.

Ahead of Luxembourg was Madrid, with 72 rich people, and behind a number of respected European centres. Among European cities, only 13 - including London, Paris, Rome, Milan, Frankfurt, Munich, as well as Monaco, Zurich and Geneva - are higher on the list.

Curiously, even the Algarve, a resort region in southern Portugal, made the rankings, coming in 60th with 55 centi-millionaire residents - a figure traditionally associated with an influx of wealthy retirees and luxury property owners.

American cities are at the top of the ranking, with New York leading the way with 818 super-rich residents, followed by San Francisco with its Silicon Valley and Los Angeles. These figures emphasise the continued dominance of the US in the distribution of global capital.

The report emphasises that the valuation was based solely on liquid assets, which makes the study particularly accurate: only funds that can be mobilised quickly are taken into account, as opposed to less liquid assets such as luxury real estate or collectible art.

For Luxembourg - a country with a high concentration of international capital and a developed financial infrastructure - this position confirms its reputation as a safe haven for global wealth, albeit on a miniscule scale.