Insta
A chequebook (Zapan09/Pixabay)
International property consultant Knight Frank has observed in its recent Attitudes Survey 2021 that 14 per cent of India's ultra-high net worth individuals (UHNWIs, $30 million-plus) are from the salaried employee segment.
This makes India the fourth highest contributor in the Asia Pacific for salaried employees in the ultra-wealthy club.
According to the survey, a vast majority of about 56 per cent Indians derive most of their wealth through their own businesses. Indians who derive their wealth through salaries or receive dividends from their investment portfolios share the second spot, contributing 14 per cent to India's UHNWIs club.
In the Asia-Pacific region, Singapore has the highest population of salaried UHNWIs with 31 per cent of the ultra-wealthy being salaried employees, followed by the Philippines (18 per cent), Chinese Mainland (16 per cent), India (14 per cent) and Hong Kong (13 per cent). Globally too, Singapore maintains its lead, followed by South Africa (28 percent), Russia (25 per cent), Canada (22 per cent) and Switzerland (22 per cent).
Commenting on the findings, Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "The rise in the number of salaried employees, who now occupy space in the UHNWI list in India, can be largely attributed to the growth of the country as a key regional and global economy. With India being a key market for most countries, we have seen the presence of most major conglomerates in India.
"Significantly, Indians are strong contenders of key executive positions worldwide due to high quality of manpower which is leading to the rise of the salaried segment as UHNWI. We expect that the phenomenon will continue to grow, as businesses seek to improve their efficiency; there would be a growth in high paying specialised jobs which will help them to contribute more to the club."
This news has been published via a Syndicated feed. Only the headline is changed.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest