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New World Wealth Report Published: Mumbai declared the 12th richest city globally

According to the report published by New World Wealth, Mumbai has been named among the top 15 wealthiest cities globally.

New World Health report published: Mumbai declared the 12th richest city globally
  • Mumbai is the 12th wealthiest city, followed by Toronto with a total wealth of $944 billion, Frankfurt (14th, $912 billion) and Paris (15th, $860 billion). 
  • The list was topped by New York with a total wealth of $3 trillion. 
  • Total wealth, refers to the private wealth held by all the individuals living in each city. It includes all their assets (property, cash, equities, business interests) less any liabilities. Government funds are excluded from the figures. 
  • Mumbai also features among the top 10 cities in terms of billionaire population. 

Highlights of the report

  • Total wealth held in Mumbai amounts to $950 billion. 
  • Mumbai is the economic hub of India. 
  • It is also home to the Bombay Stock Exchange (BSE), the 12th largest stock exchange in the world. Major industries in the city include financial services, real estate and media. 
  • Mumbai is expected to be the fastest growing city (in terms of wealth growth over the next 10 years). 
  • Houston, Geneva, Osaka, Shenzhen, Melbourne, Zurich and Dallas were among the notable cities which missed the spot in top 15. 
  • Mumbai accounts for roughly 6% of Indian economy. 
  • It employs 10% factory employment, 30% of income tax collections, 60% of custom duty collections, 20% of central excise tax collections, 40% of foreign trade and it gives $10 billion as corporate taxes. 

List of top 15 Wealthiest Cities


Rank Country Wealth
1. New York $ 3 Trillion
2. London $ 2.7 Trillion
3. Tokyo $ 2.5 Trillion
4. San Francisco Bay Area $ 2.3 Trillion
5. Beijing $ 2.2 Trillion
6. Shanghai $ 2 Billion
7. Los Angeles $ 1.4 Trillion
8. Hong Kong $ 1.3 Trillion
9. Sydney $ 1 Trillion
10. Singapore $ 1 Trillion
11. Chicago $ 988 Billion
12. Mumbai $ 950 Billion
13. Toronto $ 944 Billion
14. Frankfurt $ 912 Billion
15. Paris $ 860 Billion

New World Wealth Report Published: Mumbai declared the 12th richest city globally New World Wealth Report Published: Mumbai declared the 12th richest city globally Reviewed by Aman Bhatia on February 14, 2018 Rating: 5

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