By 2025, the number of billionaires in India will increase to 43 percent. The wealth report of International Property Consultancy Knight Frank Global says that the number of billionaires in India is increasing more rapidly than other Asian countries.
HNWIs will grow at the fastest speed
The report said that the growth of billionaires will be more rapid after the corona infection. At present, there are 113 billionaires in India, while the number of high net worth individuals (HNWIs) is 6,884. According to the report, by 2025, the number of billionaires will increase by 43 per cent to 162, while the number of high individual net worth will increase by 63 per cent. Those with an income of Rs 217 crore are counted among the high personal net worth.
Billionaires will grow here at the fastest speed in the whole world
This is the fastest pace of the increasing number of billionaires in India. This average is 38 percent in Asia and 24 percent in the world. If one percent of the richest people in India want to join the club, then the wealth should be Rs 43.4 lakh. This number will double in the next five years. Night frank’s report says that India’s consumption-based economy is rapidly generating billionaires. This speed is higher here than in the second global economy. In India, billionaires are buying houses fast. Earlier one in every ten billionaires wanted to buy a new house, but now one in every five billionaires wants to upgrade their house or buy a new one.
Many prefer buying new houses
The report says that Covid-19 has changed the attitude of the people towards buying houses. Now people want to take home in coastal areas or ski destination. In India, at least 41 per cent of HNIs want to get a new house in the coastal areas. According to the global property market, Monaco is the most expensive city in the world.
