Hong Kong and Singapore are expected to rank just after New York and London, as centres of wealth, knowledge, power and influence for the world, by 2024.   The Wealth Report 2014, published by Knight Frank and Wealth Insight, referred to these cities as “Global Cities of Power”, with Shanghai and Beijing also projected to be in the Top 10. The others are Dubai, Miami, Geneva and Mumbai.

As the two major Asian financial centres, Hong Kong and Singapore are already key centres for financial markets, financial services and wealth management.

“To whom much is given, much is expected”, as an old saying goes. Becoming a “Global City of Power” does not involve just a measure of wealth, but also implications of growing knowledge and power base, with the ability to influence and shape world development.

It is important to then ask, in the realm of social responsibility, impact investing and directing wealth towards philanthropy and social giving, whether these cities are also witnessing significant interest and establishing infrastructure towards funding the social good?

Similarly, with Shanghai and Beijing, leading China in becoming the world’s Number One economy, as well as Mumbai with respect to India’s impressive economic story, the development of social responsible framework and focus on sustainable growth are key areas.    While New York, London, Miami and Geneva are developed economies, with more established practices for social responsibility, the new and emerging economies may have more to learn from the developing countries in embracing sustainable development in terms of shared or common experiences.

Watch the movers and shakers.