Philanthropy: Indian UHNWIs' philanthropic activities increased 78 percent in in the past 10 years and the number will be around 94 percent over the next 10 years, the report said.
There were 3,010 Australians with assets worth more than $US30 million in 2015, up from 1,281 in 2005, according the global Wealth Report 2016 by property consultants Knight Frank.
"India will account for five per cent of the total UHNWI population and six per cent of the billionaire population across the world by 2025, " the report said.
Mumbai houses 18%: At 1,094, Mumbai has the most UHNWIs followed distantly by Delhi where the number is less than half of Mumbai - 545.
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The flight school revoked his visa after the incident and that's why he's in jail awaiting a hearing. The agency would not provide further details.
Knight Frank's overall wealth report - in collaboration with Wealth X - also found that succession and inheritance issues, wealth taxes and the global economy are the key concerns of the world's wealthy. The global growth in the number of billionaires during the past 10 years has been much lower at 68 per cent. There are an estimated 1,919 billionaires in the world at present. NY and London was first and second respectively. "Going forward, Mumbai will continue to maintain its number one position but the rate of growth in UHNWI population will be marginally higher in New Delhi than in Mumbai".
Two thirds of respondents to Knight Frank's survey said they expect their clients' rate of wealth growth to slow over the next decade, while 84 per cent of respondents in Australasia reckoned an economic slowdown is on its way.
Dubai became a global hub in recent years, with Dubai International Airport being named as the world's busiest airport after overtaking London's Heathrow in passenger numbers.
The firm also said the number of ultra rich in Mumbai will increase to 2,243 while the number for Delhi will go up to 1,128 over the next decade. At the same time, the value of the world's leading prime residential property markets rose on average by 1.8 pct in 2015. Both the cities are now ranked 21 and 33 among the 97 cities globally. Within the real estate sector, commercial asset class is preferred over the residential segment and wealthy Indians will maintain this status quo with regard to their investment preferences in future. "Over the past 10 years, 54% of the respondents said their clients had increased their allocation to residential property". Meanwhile, Bengaluru is among top 20 cities globally for investment according to Prime Investment Residential Index, with Delhi and Mumbai ranked 44 and 51 in the list.