Despite the pandemic hit year, the number of high-net-worth individuals (HNIs) in India has gone up by 6% in 2020. The country has 2.8 lakh HNIs at the end of 2020 as compared to 2.6 lakh a year ago, according to 'World Wealth Report' released by Capgemini.
The report said that growth in number of HNIs in India is due to the rally in the equity market.
India remains seated at the 12th spot in the ranking of top HNI countries. The ranking is led by US with 66 lakh HNIs. Japan and Germany occupy the next two spots with HNI population of 35 lakh and 15 lakh, respectively. The top three countries along with China are home to 63% of the total HNI population.
Top 25 countries by HNI population (figures are in thousands*):
*Multiply HNI numbers by 1,000 for exact figures
Kuwait and Brazil were the only counties in the top 25 list which registered a fall in HNI population.
North America emerges as HNI leader
A stellar rise in equity markets has helped North America overtake the Asia Pacific (APAC) region in HNI population and wealth. In 2020, the HNI population in North America has increased to 70 lakh as compared to 63 lakh a year ago. The APAC region which had occupied the lead spot for 5 straight years fell behind North America in 2020. The region had 69 lakh NHIs at the end of 2020.
Number of HNIs by region (in million):
Global HNI population up 6.3%
In 2020, the global HNI population has gone up by 6.3% on the back of unprecedented stock market gains amid a volatile global economy. The wealth of HNIs rose 7.6% during the period.
HNI wealth by region (in trillion dollars):
The report defines HNIs as those individuals who have investable assets of over $1 million. Individuals having investable wealth of over $30 million were defined as ultra HNIs.
