Question: According to a recent report, at which of the following places Indian city Mumbai is in the ‘Global City Wealth Index’?
- The London-based global consultancy firm Knight Frank’s ‘Wealth Report-2018’ was released on March 2018. This is the 12th edition of this report.
- In this report, an index has been prepared by studying the cities of the world on an economic basis.
- This index is the ‘City Wealth Index’.
- In which the Indian city Mumbai is placed on the 47th rank among 314 cities of the world.
- The City Wealth Index have been prepared on the basis of Four key indicators ‘Wealth’ ‘investment’, ‘lifestyle’ and ‘future’.
- The report says that Mumbai is ranked 16th in the world’s twenty most expensive cities, where land piece of only 92 square meters area can be bought for $ 1 million.
- The top 20 cities in the ‘City Wealth Index’ are: New York, London, San Francisco, Los Angeles, Chicago, Singapore, Paris, Tokyo, Hong Kong, Washington DC, Sydney, Dallas, Boston, Houston, Miami, Atlanta, Beijing, Shanghai, Munich, and Melbourne.
- According to the report, Mumbai and Delhi will be among the top 10 markets in the context of earning householders’ (homes) over $ 25 million in salaries during 2017 and 2022.
- After China and Japan, India will be the third largest contributor to Asia in terms of rich population.
- It is noteworthy that Mumbai’s rank was 21st in the ‘City Wealth Index’ for the year 2017, while Delhi was at 35th
- In the City Wealth Index of 2018, Mumbai is ranked 20th in terms of ‘Wealth’ alone.
- While Delhi and Bangalore are ranked 22nd and 26th
- Ultra High Net worth Individual is a standard of economic prosperity.
- Globally, members of ‘UHNWI’ are only those, whose annual capital is $ 50 million or more.
- According to the report, the global number of ‘UHNWI’ is 129,730.
- This number has increased by 11,630 in 2017.