Wealth of HNWIs reached unprecedented levels in 2023: Capgemini study

Last Updated08/06/2024

The number of high net-worth individuals (HNWI) in India increased by 12.2% in 2023.

The financial wealth of India’s HNWIs increased by 12.4% in 2023 in comparison to 2022.
Market buoyancy in 2023 sparked a $3.8 trillion increase in HNWI’s wealth.
Among the best performers in the APAC region were India and Australia.
A resilient economy and robust performance of the equity markets drove wealth growth in both of these countries.
Asia-Pacific experienced 4.2% HNWI wealth growth and a 4.8% rise in the HNWI population.
India’s country’s market capitalisation increased by 29.0% in 2023, after an increase of 6% in 2022.
The country’s national savings as a percentage of GDP too increased to 33.4% in 2023 compared to 29.9% in 2022.
Buoyed by a resurging equity market and improving macroeconomics, global high-net-worth individual (HNWI) wealth and population rose by 4.7% and 5.1% in 2023.