The number of ultra-high-net-worth individuals (UHNWIs) in the world increased by 4.2 per cent in 2023. In India, the yearly growth in the number of UHNWIs was 6.1% in 2023 compared to 2023.
Moreover, the number of UHNWIs in India is expected to increase by 50.1% in the next five years, according to The Wealth Report 2024 by Knight Frank. You may now be wondering how many total UNHWIs are there in India? Read on to find out
As per the report, the number of UHNWIs in India was 13,263 in 2023. It is expected to increase to 19,908 by 2028 That means, the number of ultra rich individuals in India is expected to increase by around 6000 in just four years!
The year on year (YoY) change in UHNWIs in India in 2023 was recorded at 6.1%. The country now boasts of 13,263 ultra wealthy individuals as against 12,495 individuals in 2022.
Globally, the number of wealthy individuals is expected to increase by 28.1% over the next five years to 8,02,891 by 2028.
Also Read: Buying a pre-owned Rolex watch in India: Everything you need to know
More wealth for Ultra rich!
The report says that as many as 90% ultra rich individuals in India are expecting to expecting to witness an increase in their wealth during the year 2024. Almost 63% are expecting to witness a significant increase of more than 10% in their wealth value.
Countries with Highest Growth in UHNWIs in 2023
The number of UHNWIs globally rose by 4.2% in 2023 to 6,26,619 from 6,01,300 a year earlier.
The report defines UHNWIs as individuals with a net-worth of US$ 30 million and more.
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Disclaimer: The above content is for informational purposes only, based on The Wealth Report 2024 by Knight Frank.
