Zee Media Bureau
New Delhi: India is expected to account for five per cent of the total ultra high net worth individuals (UHNWIs) in the world by 2025, a study said.
According to 'Knight Frank Wealth Report 2016', the country's share in the total number of billionaires is also expected to rise to six per cent by 2025.
In the last 10 years, the billionaire count in India jumped nearly fourfold to 78, while the global growth was just 68 per cent at 1,919.
Similarly, UHNWI count over the period rose by 340 per cent to 6,020 people, compared to the global growth of 61 per cent at 1,87,468.
Here are Key Takeaways
- In the last 10 years, billionaire counts in India jumped by 333% to 78 people; global growth was just 68% to 1,919 people
- In the last 10 years, UHNWI count in India rose by 340% to 6,020 people; global growth was just 61% to 1,87,468 people
- India to account for 5% of the total UHNWI population and 6% of the billionaire population across the world by 2025
- India ranks 3rd in absolute increase in UHNWI* populations over the next 10 years; after US (1st) and China (2nd)
- Out of 97 cities globally, Mumbai and Delhi currently ranked at 21 and 33 respectively; slated to move up to ranks 14 and 29 respectively by 2025
- Currently, with 1,094 UHNWIs, Mumbai leads in India followed by Delhi with 545. The next decade will see Mumbai increase to 2243 and Delhi to 1128 UHNWIs
- Average number of residential properties owned by wealthy Indians stands at 4; highest in the world -the global average stands at 3.7
- Fine arts and antiques have replaced watches; while jewellery continues to be the most preferred collectible investments followed by cars & bikes