According to the Hurun India Wealth Report 2021, the number of dollar-millionaire households in India increased by 11% over the previous year. The publication collects India’s wealthiest list, as well as the Luxury Consumer Survey, which examines their spending habits. According to the most recent Hurun Report, Mumbai has the most millionaire households in the country, followed by Delhi and Kolkata.
As per the Hurun Report, millionaire households have a net worth of $1 million (equal to Rs. 7 crore). The report was made public today. According to the report, the number of such homes reached 4.58 lakh this year, an increase of 11% over the previous year.
It went on to say that the number of dollar-millionaire homes in India is expected to rise by 30% over the next five years, reaching six lakh by 2026.
According to the Hurun Report, the city-wise distribution of millionaire families is as follows: Mumbai has 20,300, Delhi has 17,400, and Kolkata has 10,500.In terms of behavioural trends, the Hurun Report found that 36% of Indian millionaires favour e-wallets or UPI as their preferred payment method, up from 18% last year.
According to the survey, nearly one-third of the high net worth individuals (HNIs) who participated in this year’s Hurun Indian Luxury Consumer Survey 2021 followed a risk-averse investment attitude during the coronavirus outbreak. This is an increase from 18% last year.
According to the research, stock markets and real estate remain the favoured investment options for the surveyed millionaires. However, the country’s happiness index has declined, according to the Hurun Report, with 66% of survey respondents indicating that they are satisfied with both their personal and professional lives, down from 72% in 2020.
As per the report, at least 70% of HNIs who took part in the Hurun survey stated they prefer to send their children abroad for education. Among the destinations, the United States remains the most popular (29%), followed by the United Kingdom (19%), New Zealand (12%), and Germany (3%). (11 per cent).
The research also includes some intriguing information regarding the behaviours of HNIs in India. According to the report, collecting watches is the most popular hobby, and Rolex is the most popular luxury watch brand. According to the Hurun Report, 63% of HNIs possess at least four watches.
Per the report, one-fourth of respondents change their automobiles every three years, and Mercedes-Benz is the most preferred luxury car brand, followed by Rolls Royce.