Mumbai, Delhi among 50 cities on global 'millionaires list', Bengaluru is a 'city to watch'

Mumbai, Delhi and Bengaluru are Indian cities with most millionaires.

Mumbai and Delhi have secured positions among the top 50 wealthiest cities in a global survey of wealth distribution, while Bengaluru found a spot in the top 10 most promising 'cities to watch' list for future growth, according to the 2024 World’s Wealthiest Cities Report released by Henley & Partners and New World Wealth.

The financial landscapes of Mumbai and Delhi have showcased substantial growth in millionaire residents over the past decade, positioning them among the world's leading cities in terms of wealth accumulation. Meanwhile, Bengaluru's ascent into the "cities to watch" category underscores its potential as a burgeoning economic hub.

Mumbai, ranked 24th on the list out of 50, boasts a significant affluent population with 58,800 millionaires, 236 centi-millionaires, and 29 billionaires. The city has experienced an impressive 82% growth in millionaires from 2013 to 2023.

Delhi, securing the 37th spot, houses 30,700 millionaires, 123 centi-millionaires, and 16 billionaires., Delhi has witnessed a remarkable 95% growth in millionaires over the same period, indicating substantial wealth generation and accumulation within the city.

Bengaluru, though not making it to the top 50 list, emerges as a city to watch with its dynamic economic growth. Ranked 9th among the "cities to watch," Bengaluru hosts 13,200 millionaires, 42 centi-millionaires, and 8 billionaires, exhibiting an exceptional 120% increase in millionaires over the past decade.

The United States, with 11 cities securing positions in the top 50, is at the top of the charts. New York City leads the global ranking with a staggering 349,500 millionaires, 744 centi-millionaires, and 60 billionaires, holding over $3 trillion in total resident wealth.

The Bay Area, encompassing San Francisco and Silicon Valley, stands second globally with 305,700 millionaires and substantial growth rates in wealth over the past decade.

Tokyo, once a frontrunner, has experienced a decline in its high-net-worth-individual (HNWI) population, slipping to third place with 298,300 millionaires.

Singapore, characterised as a business-friendly destination, has climbed to fourth place, attracting a significant influx of millionaires and centi-millionaires.

London, Los Angeles, Paris, Sydney, Hong Kong and Beijing are also in the top 10.