NEWS – The Capgemini Research Institute’s World Wealth Report 2024 reveals significant growth in the number and wealth of high net-worth individuals (HNWI) in India and globally

HIGHLIGHTS

Growth in HNWI Population and Wealth in India

Increase in HNWI Population

• Percentage Increase: 12.2% in 2023 compared to 2022.
• Total Population: 3.589 million HNWIs.

Increase in Financial Wealth

• Percentage Increase: 12.4% in 2023.
• Total Wealth: $1,445.7 billion in 2023 up from $1,286.7 billion in 2022.
• Market Buoyancy Impact: Sparked a $3.8 trillion increase in HNWI wealth.

Performance in the ASIA – PACIFIC Region

Top Performers

• India and Australia:
  • India: 12.4% wealth growth and 12.2% population growth.
  • Australia: 7.9% wealth growth and 7.8% population growth.

Drivers of Growth

• Resilient Economy: Contributed to wealth growth.
• Robust Equity Markets: Boosted wealth in both countries.

Regional and Global Trends

• Asia-Pacific Region
  • HNWI Wealth Growth: 4.2% increase.
  • HNWI Population Growth: 4.8% increase.
• Global Trends
  • Global HNWI Wealth: Increased by 4.7%.
  • Global HNWI Population: Rose by 5.1%.

Economic Indicators in India

• Unemployment Rate – Decrease: Dropped to 3.1% in 2023 from 7% in 2022.
• Economic Growth – GDP Growth: 7.3% in 2023, higher than 7% in 2022.
• Market Capitalisation – Increase: 29.0% in 2023, up from a 6% increase in 2022.
• National Savings – Savings as Percentage of GDP: Increased to 33.4% in 2023 from 29.9% in 2022.