Two Turkish Cities Ranked Among the World’s Wealthiest in 2024

In a recent global wealth ranking for 2024, Istanbul and Ankara have made it to the list of the world’s wealthiest cities. The list, compiled using data on millionaire populations, investment performance, real estate markets, and economic growth, highlights the growing appeal of Turkish cities on the international stage.

According to the findings, Istanbul ranked 39th globally, while Ankara came in at 92nd, solidifying Turkey’s position as a rising hub for wealth accumulation and investment potential.

Istanbul: Turkey’s Economic Powerhouse

Istanbul is home to more than 37,000 millionaires, including over 50 individuals with assets above $100 million, and at least five billionaires. Its geographic advantage—straddling Europe and Asia—combined with its vibrant business ecosystem and expanding luxury real estate market, has made Istanbul an attractive city for investors from across the globe.

The city’s economic momentum is further supported by significant interest from Middle Eastern, Asian, and European investors. Istanbul’s appeal also stems from its real estate-linked residency programs and relatively affordable property prices compared to other major global cities.

Ankara: A Capital City with Rising Economic Influence

As the political and administrative center of Turkey, Ankara has traditionally played a secondary role in the country’s wealth dynamics. However, the capital has been gaining economic traction, currently boasting around 6,100 millionaires.

With steady growth in sectors like technology, defense, and higher education, Ankara is becoming more appealing to both local and international investors. Large-scale infrastructure projects and urban development plans have also helped attract high-net-worth individuals and expand the city’s investment potential.

Turkey’s Growing Position on the Global Wealth Map

The appearance of two Turkish cities in the global top 100 reflects the country’s expanding wealth base and investment appeal. Despite recent economic challenges, Turkey continues to attract interest due to its dynamic real estate sector, strategic location, and investor-friendly policies.

In particular, Turkey’s residency and citizenship programs tied to property investment have gained popularity among international investors. These initiatives, combined with long-term rental yields and a strong tourism sector, continue to draw attention to cities like Istanbul and Ankara.

The Bigger Picture: Where Do Turkish Cities Stand Globally?

While major metropolises like New York, Tokyo, and London continue to dominate the upper echelons of the global wealth rankings, the inclusion of Turkish cities points to a notable shift in global economic trends. As emerging markets gain prominence, cities in countries like Turkey are increasingly viewed as viable alternatives for wealth creation, lifestyle, and strategic investment.

This trend also suggests that investors are looking beyond traditional hubs and considering locations that offer both cultural richness and financial growth potential.

The recognition of Istanbul and Ankara as two of the world’s wealthiest cities in 2024 signals a growing confidence in Turkey’s economic resilience and urban development. With its blend of opportunity, affordability, and strategic value, Turkey is positioning itself as a destination not just for tourism, but for long-term investment and elite migration.

For global investors and entrepreneurs, Turkish cities offer a compelling mix of lifestyle, access to regional markets, and strong real estate opportunities—making them cities to watch in the coming decade.