Serene Experiences, India
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Growing wealth
Indians have started realising that no purchase or investment provides greater lifelong value than a journey taken with family and friends. The benefits of a vacation may end in a matter of days or weeks, its memories do not. People tend to savour their experiences long after returning home.
This is the true value of travel and now more and more Indians are realising it. India is on its way to becoming a large and globally important consumer economy. The Indian upper middle-class is estimated to be 250 million people. The number of millionaires in India in 2014 rose to 250,000, an increase of 27 per cent over the previous year. It is also predicted that India will have 437,000 millionaires by 2018, and potentially double that number by 2023.
Terming the next 10 years as ‘India’s decade’, the report by Wealth X says that “the nation also has a young, well-educated population with high levels of entrepreneurship and business ownership, underpinned by a well-developed legal system that in turn helps in wealth creation.” A Wealth X and UBS report shows that India had 8,595 ultra high net worth (UHNW) individuals in 2014, with wealth amounting to $1.01 trillion. This places India 6th in the global rankings.
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