India’s financial capital, Mumbai, is among 3 cities that will, by 2030, enter the list of top 20 cities with the most millionaires, said London-based Henley and Partners in the investment advisory firm’s Global Citizens Report for Q3 (July-September) of 2022.
The UAE’s most populous city, Dubai, and China’s tech hub of Shenzhen are the other two cities, the report noted.
What does the latest Global Citizens Report say about Mumbai?
In its study, Henley and Partners ranked Mumbai at 25, two spots behind Dubai. The report stated that the Maharashtra Capital is home to as many as 60,600 millionaires, 243 centi-millionaires, and 30 billionaires. The report also mentioned the Mumbai-based Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), which are among the world’s 10 largest stock exchanges by market cap.
The fast-growing sectors in India’s most populous city include financial services, media, and real estate, it further stated.
On the other hand, as many as 67,900 millionaires, 202 centi-millionaires, and 13 billionaires live in Dubai, while Shenzhen, ranked 30th, has 43,600 millionaires, 135 centi-millionaires, and 17 billionaires.
Wealthiest cities in the world
The list was topped by New York, and the metropolis had four other American cities for company in the top 10 (San Francisco Bay area-3, Los Angeles-6, Chicago-7, and Houston-8). At 18, Dallas-Fort Worth was the sixth and final American entry in the top 20.
Tokyo (2), London (4), Singapore (5), Beijing (9), Shanghai (10), Sydney (11), Hong Kong (12), Frankfurt (13), Toronto (14), Zurich (15), Seoul (16), Melbourne (17), Geneva (19), and Paris (20) completed the top 20 on the list.