In a testament to India’s sustained economic growth, Mumbai and Delhi have debuted in the top 50 wealthiest cities worldwide according to the Wealthiest Cities Report 2024 by Henley & Partners and New World Wealth. Mumbai secured the 24th position while Delhi claimed the 37th spot.
Wealthiest Cities Report 2024
Compiled by Henley & Partners in collaboration with New World Wealth, the report identifies the wealthiest cities based on the presence of High Net Worth Individuals (HNWIs), centi-millionaires, and billionaires. New York City retains its top position with 349,500 millionaires, collectively possessing over $3 trillion in wealth.
Indian Cities of Mumbai and New Delhi
Mumbai boasts 58,800 millionaires, 236 centi-millionaires, and 29 billionaires, securing its place as the 24th wealthiest city. Delhi, on the other hand, is home to 30,700 millionaires, 123 centi-millionaires, and 16 billionaires, placing it at 37th on the list.
Rise of the Asia Pacific
The report highlights the ascent of Asia Pacific cities, with five out of the top 10 wealthiest cities belonging to this region. Tokyo leads the pack in third place, followed by Singapore, Sydney, Hong Kong, and Beijing. Dubai stands as the wealthiest city in West Asia, ranked 21st globally.
Fastest Growing Millionaire Cities
Seven of the ten fastest-growing millionaire cities are located in the Asia-Pacific region. Shenzhen in China leads the pack with a staggering 140% growth in its millionaire population over the last decade, followed by Hangzhou, Guangzhou, Delhi, Beijing, Shanghai, and Mumbai.
Top 10 Wealthiest Cities
The top 10 wealthiest cities include New York City, The Bay Area, Tokyo City, Singapore, London, Los Angeles, Paris, Sydney, Hong Kong, and Beijing, showcasing the global distribution of wealth concentration.
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