Seven Indian cities, including the financial capital Mumbai and political hub Delhi, have been named among Asia Pacific’ top 20 cities in terms of growth in number of multi-millionaires, a report said.
Pune, Hyderabad, Bangalore, Chennai and Kolkata are the other Indian cities in the list of 20 cities in Asia Pacific (APAC) for the decade ended December 2014, said the report by New World Wealth.
Ho Chi Minh City, Vietnam topped the list. A millionaire (or HNWI) is an individual with net assets of $1 million or more, whilst a multi-millionaire is an individual with net assets of at least $10 million, as per the report titled ‘Fastest growing cities for the super-rich’.
Pune saw the fastest growth in terms of number of super-rich people which increased from 60 in December 2004 to 250 in December 2014, a jump of 317 per cent.
After Pune, Mumbai witnessed the sharpest rise in number of multi-millionaires. As of December 2014, it was home to 2,690 multi-millionaires.
During the period, the number of multi-millionaires in Hyderabad increased from 160 to 510. In Bangalore the number increased from 140 to 440, Delhi (430 to 1,350), Chennai (130 to 390), Kolkata (210 to 570).
India has been ranked at the 8th place on the list with 14,800 multi-millionaires.
Hong Kong topped the ranking of cities for resident multi-millionaires, followed by New York and London. Mumbai was the only city on the list with 2,700 multi -millionaires.