Though wage growth is stagnant and the world is facing serious economic challenges the number of the world’s richest continues to grow.

Verdict, in association with GlobalData WealthInsight, has been investigating and has compiled a list of the 10 cities around the world that the most multi-millionaires call home.

Multimillionaires are defined as residents with net assets worth $30m or more, excluding the value of their first home.

Here are the top 10.

10. Seoul

Seoul, the capital of South Korea, now has a total multi-millionaire count of 1,420, up four percent from 1,365 last year.

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