In accordance with the Asia Pacific 2016 Wealth Report, by New World Wealth, India’s National capital New Delhi and Financial capital Mumbai have been listed among the top Asia Pacific cities for HNIs (high net worth individuals).
- The list has been topped by Tokyo for the ultra-rich with 2, 64,000 millionaires while Mumbai has been ranked at 12th position with 41,200 millionaires and Delhi was positioned at 20th with 20,600 millionaires.
High Net worth Individuals or HNWIs (millionaires) were defined as those individuals with net assets of USD 1 million or more.
- In terms of millionaire growth in the cities of Asian pacific, Jakarta was the fastest growing city followed by Hangzhou at second place and Tianjin at third place.
- Mumbai and Delhi has also made it to be in top 5, Mumbai has registered a growth of 357% while Delhi has recorded 335% in the period between 2000 -2015.
- It is expected that Mumbai and by will enroll their position in the top 3 cities of HNWI growth while Jakarta will remain consistent to be at the 1st position.
Indian cities under “emerging Asia Pacific cities”
There were 6 Indian cities featured under this category including Kolkata with HNWIs, Hyderabad (7,800), Bangalore (6,700), Chennai (6,000), Pune (3,800) and Ahmedabad (3,700).
- At the end of 2015, overall there were, 12, 60,000 millionaires in Japan, while China ranked second with 654,000 HNWIs and Australia was at the third place had 290,000.
About New World Wealth:
It provides information on the global wealth sector, with a special focus on high growth markets. It provides customized services to luxury goods companies, private banks, wealthy individuals (HNWIs), family offices, real estate professionals and fund managers.
- It interview over 800 HNWIs every year in order to determine their preferences.