Mumbai: The favourite living destination for Indian billionaires

India’s metropolitan city Mumbai harbours many known celebrities as well as common people, who live cheek-by-jowl in soaring skyscrapers, chawls and even in slum areas. As per Knight Frank's Wealth Report 2015, which was released on Monday, 30 out of India's 68 billionaires live in Mumbai. And this is how, the city makes its way to the list of 20 global cities, an Economic Times report stated.

The financial daily further added that the survey covered 97 countries across the globe.

New York City bagged the first position on the billionaire population list. The second spot is secured by Moscow (91), and this is followed by Hong Kong (53), London (49) and Beijing (37).

India is spotted at the seventh position in the list with 68 billionaires. And with 515 billionaires, the United States leads the list. By 2024, the billionaire population in Mumbai will zoom to 110%, the ET report said.

The survey also revealed that 830 people from all corners of the world joined the ranks of the billionaire club in the last 10 years.

“Wealth creation in India is expected to accelerate with the number of Ultra High Net Worth Individuals (UHNWIs) expected to double over the next decade. This reflects a more positive outlook for India's economy after 2014 was marked by capital outflows and a sharp devaluation of the rupee,'' Shishir Baijal, chairman & MD, Knight Frank India, told The Economic Times. (Image: Travel.india.com)