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India Contributes Most Number of Ultra HNWI in APAC India witnessed a growth in the HNWI population and wealth by 10.5 per cent and 11.6 per cent respectively

By Saptak Bardhan

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India is one of the top contributors to Ultra-HNWI population in the APAC region along with Taiwan. According to a recent report by CapGemini, India witnessed a growth in the HNWI population and wealth by 10.5 per cent and 11.6 per cent respectively. India's Nifty50 and BSE Sensex-30 indices went up by 24 per cent and 22 per cent respectively.

The ultra-HNWI population growth globally remained constant at 9.6 per cent. Ultra-HNWIs were the highest growing wealth band in 2021. India accounts for six per cent of the global unicorns. India has seen a massive upturn in the number of unicorns. India recorded 43 unicorns in 2021 and has witnessed 16 unicorns in 2022. The unicorns have raised over $100 billion and the combined valuation of approximately $334 billion.

United States has been home to majority of the unicorns which is approximately 51 per cent. North America witnessed the highest growth in the ultra-HNWI population and wealth, 14.2 per cent and 14.8 per cent respectively. North America has continued its growth trajectory as the continent witnessed the highest increase in HNWI population and wealth, 13.2 per cent and 13.8 per cent respectively.

The top-four positions in HNWI population in 2021 by market were retained by the United States, Japan, Germany, and China respectively, comprising 63.6 per cent of the global HNWI population, an increase of 0.7 per cent from 2020. Ultra-HNWIs led global wealth and population growth, at the rates of 9.6 per cent and 8.1 per cent. The report indicated that the growth gap across wealth bands is shrinking, indicating a more level playing field, due to improved information access for investors and democratization of asset classes.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
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