As per the Hurun India Wealth Report and Consumer Survey, India has over 8.7 lakh millionaire households. Being a millionaire is more than just a high net worth; it is also about owning the next best luxury experience and travelling to destinations other millionaires choose, too. Here’s a sneak peek into the suitcase of a millionaire and where they pack for the most.
The Hurun data is up 90% from the 2021 survey, which found 4.5 lakh high-net-worth individuals (HNI) in India. However, the larger part of the wealth concentration lies in Maharashtra, with Mumbai being the millionaire capital of India.
From private jets to yachts, from luxury travel to million-dollar assets – it’s the first step into how to be a millionaire guide.
Most preferred luxury destinations for India’s millionaires
India’s billionaire and millionaire households swear by a tight cluster of locations. Achieving their luxury status through their tourists, locations like Singapore, the UAE, Greece, the Maldives, and Japan have stood out on the charts. Interestingly, several European countries rank much lower on the list.
Singapore – Single most preferred spot
According to the Hurun report, Singapore is the single-most preferred overseas destination. 11% of the HNI prefer this Asian wonderland with the most popular locations, which include the Marina Bay Sands, Raffles, and The Capella. The land to the most luxurious hotels in the world, the luxe experience is beyond compare. In fact, Singapore is also one of the biggest attractions when it comes to overseas investment and educational spots.
UK and Switzerland
The United Kingdom and Switzerland jointly hold second place, each attracting around 9 per cent of high-net-worth individuals. Set at the heart of Europe, both destinations blend natural beauty with strategic connectivity, making them easy yet rewarding choices for affluent travellers.
France and Greece
France and Greece follow behind, with about 5 per cent of millionaires choosing each. France’s pull largely comes from Paris, one of the world’s foremost fashion capitals and home to luxury giants like LVMH. For those who live and breathe haute couture, Paris houses indulgence like no other. Greece, on the other hand, charms travellers with its old-money aesthetic and its rich history. With some of the most premium resorts in Europe, these cities place France and Greece close to the top.
Italy and Milan’s Luxury Influence
Close to Milan, another hub for global fashion labels which attract all genders, Italy continues to entice luxury lovers. With iconic fashion houses such as Prada leading the way, the city exudes an exclusive charm for the elite.
USA and Australia
The United States and Australia sit neck-and-neck at around 8 per cent. Geographically worlds apart, they not only attract tourists, but also millionaire investors to these lands. With the hub of finance located in the US, Australia offers an exquisitely private luxury travel. From the iconic beaches of the island continent to the diverse terrain of endless adventures in the US, this ranking is true to its millionaire calling.
Asia has Japan and the Maldives
Japan and the Maldives attract smaller but distinct shares, at 7 per cent and 6 per cent respectively. While Japan appeals to millionaires through its precision, craftsmanship and refined silent luxury culture, the Maldives continues to dominate as the ultimate beachside escape. Synonymous with opulence, Maldives surprisingly ranks much lower in the list.
Dubai and the UAE
Dubai remains a standout destination, with the UAE drawing around 7 per cent of millionaires according to the Hurun survey. Low taxes, strong investment returns, world-class infrastructure and an unmatched sense of safety and convenience make Dubai a magnet for global wealth.
