India to have more demi-billionaires than France, UK by 2022
INVC NEWS Mumbai ,
· The US will remain the country with the biggest overall population of demi-billionaires, expected to rise from 1,830 to nearly 2,500 over the next five years. In China, the number will grow from 490 to 990, says Wealth-X.
· Despite the rise in political uncertainty and unknowns surrounding the final Brexit deal, the UK saw the largest inflow of overseas deposits globally in 2017, rising to US$1.8 trillion, a currency adjusted annual net inflow of US$239 billion, according to Bank for International Settlements (BIS) data analysed in the annual Knight Frank Wealth Report.
· Singapore experiences resurgent price growth in Knight Frank’s analysis of 20 prime international residential markets. Singapore leads the house price rankings (+11.5%). The city has witnessed resurgent price growth due to rising foreign demand and high land bids by developers.
· The US was the largest origin for deposit outflows, reaching US$220 billion in 2018. The most popular destinations for these funds were the UK, France and Canada.
Shishir Baijal, Chairman & Managing Director Knight Frank India said, “The latest Wealth Report Autumn Update 2018 captures interesting perspectives of the global wealthy on a range of factors concerning their decisions on wealth and spending.
Closer home, the report’s findings show that prime residential markets in cities such as Mumbai and Delhi have remained largely stable in the last five years, which creates a good entry opportunity for buyers. At the same time, the number of demi-billionaires has been steadily increasing in India and is poised to grow by 70% by 2022, clearly underscoring the potential for demand and price growth going forward.”