7th June 2024 (13 Topics)
1
Jun
3
Jun
4
Jun
5
Jun
6
Jun
7
Jun
8
Jun
10
Jun
11
Jun
12
Jun
13
Jun
14
Jun
15
Jun
17
Jun
18
Jun
19
Jun
20
Jun
21
Jun
22
Jun
24
Jun
25
Jun
26
Jun
27
Jun
28
Jun
29
Jun
Growth Trends of High Net-Worth Individuals (HNWI) in India
Context
India's high net-worth individuals (HNWI) experienced significant growth in both population and wealth, driven by favorable market conditions and economic indicators. This trend aligns with the broader global increase in HNWI wealth and population observed in 2023, as per The Capgemini Research Institute’s World Wealth Report 2024.
Key-highlights:
- Increase in HNWI Population and Wealth:
- In 2023, India saw a significant rise of 12.2% in the number of high net-worth individuals (HNWI), reaching a total of 3.589 million.
- The financial wealth of India's HNWIs also increased by 12.4% to $1,445.7 billion, compared to $1,286.7 billion in 2022.
- This growth was attributed to market buoyancy, which spurred a $3.8 trillion increase in HNWI wealth globally.
- Performance in the APAC Region:
- India and Australia were among the top performers in the Asia-Pacific (APAC) region.
- India recorded a 12.4% growth in HNWI wealth and a 12.2% increase in HNWI population, driven by a resilient economy and strong performance in equity markets.
- Economic Indicators:
- India's unemployment rate decreased to 3.1% in 2023 from 7% in 2022, despite a 7.3% growth in the economy.
- Market capitalization in India increased by 29.0% in 2023, reflecting a robust equity market.
- National savings as a percentage of GDP also rose to 33.4% in 2023, up from 29.9% in 2022.
Global Trends:
- Globally, HNWI wealth and population increased by 4.7% and 5.1% respectively in 2023.
- This growth was supported by a resurging equity market and improving macroeconomics.
More Articles
Courses
Study
Notes
Home
Resources
More
