Global City Wealth Index

Question: According to a recent report, at which of the following places Indian city Mumbai is in the ‘Global City Wealth Index’?
(a) 47th
(b) 48th
(c) 49th
(d) 50th
Answer: (a)
Related Facts:

  • 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.

Reference:
http://www.thehindu.com/news/cities/mumbai/mumbai-ranks-47th-on-wealth-index/article22987349.ece
https://www.mid-day.com/articles/mumbai-ranks-47th-on-global-city-wealth-index-say-report/19164158
https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/shared/ShowArticle.aspx?doc=TOIM%2F2018%2F03%2F08&entity=Ar00601&sk=53760DE7&mode=text
http://www.financialexpress.com/economy/city-wealth-index-aamchi-mumbai-ranked-47th-among-314-cities-in-the-world/1090751/

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