Mumbai Ranks 24th Among 50 Cities On Global Millionaires List

The 2024 World's Wealthiest Cities Report, published by Henley and Partners and New World Wealth, reveals that Bengaluru has landed in the top 10 most promising "cities to watch" list for future growth, while Mumbai and Delhi have secured positions among the top 50 wealthiest cities in a global survey of wealth distribution.

Over the last 10 years, Mumbai and Delhi's financial landscapes have demonstrated a significant increase in the number of millionaires living there, placing them among the world's most wealthy cities. In the meantime, Bengaluru's elevation to the list of "cities to watch" highlights its potential as a growing centre of the economy.

Mumbai, which came up at number 24 on the list of 50, is home to 58,800 millionaires, 236 centi-millionaires, and 29 billionaires, making it a remarkably wealthy city. The number of millionaires in the city increased by an astounding 82% between 2013 and 2023.

At number 37, Delhi is home to 30,700 millionaires, 123 centi-millionaires, and 16 billionaires. Over the same time period, the number of millionaires in Delhi has increased by an astounding 95%, suggesting that the city has generated and accumulated significant wealth.

Despite not placing in the top 50, Bengaluru's rapid economic growth makes it a city to keep an eye on. Bengaluru, which is ranked ninth among "cities to watch," is home to 13,200 millionaires, 42 centi-millionaires, and 8 billionaires. In the last ten years, the number of millionaires in Bengaluru has increased by an astounding 120%.

At the top of the charts is the United States, with 11 cities making the top 50. With an astounding 349,500 millionaires, 744 centi-millionaires, and 60 billionaires—a total of almost USD 3 trillion in resident wealth—New York City tops the global leaderboard.

The Bay Area, which includes Silicon Valley and San Francisco, is the second wealthiest region in the world, with 305,700 millionaires and significant wealth growth rates over the last 10 years.

Former leader Tokyo dropped to third place with 298,300 millionaires as a result of a decrease in the number of high-net-worth individuals (HNWIs). 

Owing to a large influx of billionaires and centi-millionaires, Singapore, which is known as a business-friendly country, has risen to fourth place.