Tuesday, December 6th, 2022 19:52:41

The Wealthy Prefer Cooler Climes

Updated: April 18, 2015 3:02 pm

So it seems. Because Pune, known for its salubrious climate, has emerged as India’s fastest growing city with multi-millionaires, according to a New World Wealth report that focuses on performance between 2004 and 2014. The wealth research firm says seven out of the 20 fastest growing cities for the super-rich in Asia-Pacific are from India.

Pune saw a 317 per cent growth in the number of multi-millionaires between 2004 and 2014—the numbers increasing from 60 to 250. A multimillionaire is an individual with net assets of $10 million or more. Overall, Pune is ranked the third fastest growing city for the super-rich in the Asia-Pacific region after Ho Chi Minh City , which saw a 400 per cent growth (from 40 to 200), and Jakarta, which recorded a 396 per cent increase (from 280 to 1,390) in multimillionaires.

Seven Indian cities, including the financial capital Mumbai and political hub Delhi, have been named among Asia Pacific’ top 20 cities in terms of growth in number of multi-millionaires, a report said.

Pune, Hyderabad, Bang-alore, Chennai and Kolkata are the other Indian cities in the list of 20 cities in Asia Pacific (APAC) for the decade ended December 2014, said the report by New World Wealth. Ho Chi Minh City, Vietnam topped the list.

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