Bengaluru has around 13,200 millionaires, to surpass 30,000 by 2033

Bengaluru is one of the fastest-growing cities within the BRICS bloc

India ranks 2nd in BRICS HNWI (High Net Worth Individual) ranking with 326,400 millionaires

Bengaluru, renowned as the ‘Silicon Valley of India’ for its thriving tech industry, currently boasts around 13,200 millionaires, a number set to surpass 30,000 by 2033.

This trajectory positions it as one of the fastest-growing cities within the BRICS bloc, with wealth forecasted to surge by 125% over the coming decade.

Bengaluru is poised to become one of the globe’s most rapidly expanding hubs for millionaires in the next decade. Additionally, India is expected to witness the most substantial growth in private wealth among BRICS nations, as indicated by the recent Wealth Report co-published by Henley & Partners and New World Wealth.

Analyzing the wealth distribution across the 10 BRICS countries—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE—the report reveals China’s exceptional private wealth surge of 92% over the past decade, resulting in 862,400 millionaires, including 2,352 centi-millionaires and 305 billionaires.

India follows closely in second place within the BRICS HNWI (High Net Worth Individual) ranking, boasting 326,400 millionaires, over 1,000 centi-millionaires, and 120 billionaires, with wealth witnessing an 85% escalation over the last 10 years.

The BRICS Wealth Report pinpoints the top 10 wealthiest cities within the BRICS nations, primarily based on their millionaire populations. Among these, five are situated in China, while India and the UAE each contribute two entries (Mumbai and Delhi; Dubai and Abu Dhabi). Notably, Moscow stands as the lone ‘wealthy city’ experiencing a decline in the number of HNW residents over the past decade, registering a 24% decrease.