According to the BRICS Wealth Report, five cities – Cape Town, Bengaluru, Sharjah, Jeddah and Riyadh will see their wealth increase significantly over the next decade.

The report indicates that Cape Town is expecting an influx of wealthy people, with an 85 per cent increase by 2033. This is reported by Pretoria News, a partner of TV BRICS.

Bengaluru, known as the “Silicon Valley of India”, is also predicted to see a sharp rise in the number of millionaires in the city – there are about 13,200 now and more than 30,000 are expected by 2033. Sharjah and Jeddah are also cities where significant growth in wealth is expected.

Sharjah currently has 4,100 wealthy individuals, but forecasts point to this number increasing to over 9,000 by 2033. Jeddah is currently home to around 7,500 wealthy individuals and will reach over 15,000 by 2033.

Riyadh, the capital of Saudi Arabia, is also expected to see a boom in millionaires, with the number of wealthy individuals increasing by 100 per cent.

Currently, there are around 18,200 of them and by 2033, the number is expected to reach 35,000.

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