Mumbai to be among 20 wealthiest cities globally by 2030: Report


India’s financial capital, Mumbai, is among 3 cities that will, by 2030, enter the list of top 20 cities with most millionaires, London-based Henley and Partners said in the investment advisory firm’s Global Citizens Report for Q3 (July-September) of 2022.

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UAE’s most populous city, Dubai, and China’s tech hub of Shenzhen are the other two cities, the report noted.

What does the latest Global Citizens Report say about Mumbai?

In the report, Henley and Partners ranked Mumbai at 25, two spots behind Dubai. The study stated that the Maharashtra Capital is home to as many as 60,600 millionaires, 243 centi-millionaires, and 30 billionaires. The report also mentioned the Mumbai-based Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), which are among the world’s 10 largest stock exchanges by market cap.

The financial hub’s fast-growing sectors include financial services, media, and real estate, it further stated.

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On the other hand, as many as 67,900 millionaires, 202 centi-millionaires, and 13 billionaires live in Dubai, while Shenzhen, ranked 30th, has 43,600 millionaires, including 135 centi-millionaires and 17 billionaires.

Wealthiest cities in the world

The list was topped by New York, and the metropolis was accompanied by four other American cities in the top 10 (San Francisco-3, Los Angeles-6, Chicago-7, and Houston-8). At 18, Dallas-Fort Worth was the sixth and final American city in the top 20.

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Tokyo (2), London (4), Singapore (5), Beijing (9), Shanghai (10), Sydney (11), Hong Kong (12), Frankfurt (13), Toronto (14), Zurich (15), Seoul (16), Melbourne (17), Geneva (19), and Paris (20) completed the top 20 on the list.

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