Nineth is Hong Kong SAR
This Chinese special administrative zone is a gateway to the mainland and Asia’s leading financial hub, having been a former British colony. Hong Kong’s economy is distinguished by minimal taxation, no capital gains or inheritance taxes, no tariffs on goods imports or exports, and complete ownership of a firm for foreigners who do not need to be citizens, residents, or nationals.
As a result, despite its small size of 1,104 square kilometers (427 square miles), this tiny island is remarkably diverse. This isn’t to imply that the city’s 7.5 million citizens are entirely poor: according to government figures, one out of every five people lives in poverty.
Meanwhile, Hong Kong is vying with New York for the title of world metropolis with the most ultra-high-net-worth individuals, with roughly 9,000 people with a net worth of $30 million or more.
Surprisingly, rising economic disparity has been a role in the political upheaval that has roiled Hong Kong since 2019, damaging businesses and frightening foreign investors. The economy shrank by 6.1 percent last year as a result of the epidemic, the worst drop on record.