Skip to content

Cape Town’s millionaire population expected to soar

# Henley and Partners’ BRICS Wealth Report projects an 85-percent surge in millionaires flocking to Cape Town over the next decade. With approximately 13-thousand-500 millionaires already residing in the city as of 2023, factors including natural beauty, public amenities, economic advancement, and solutions to load-shedding contribute to this growth. The report also anticipates a 60-percent increase in wealth per capita by 2033, signaling promising economic expansion in South Africa. Additionally, Cape Town witnesses significant semigration, as high net worth individuals relocate from Johannesburg and Pretoria.