The City Wealth Index released on Wednesday by international property consultants Knight and Frank in their annual wealth report ranks Mumbai at 21, ahead of megapolises like Toronto, Washington DC and Moscow. Essentially, the City Wealth Index maps the lifestyle and investment decisions made by the super rich defined by the acronym (warning: it is a mouthful) UNHWI which when elaborated reads as Ultra High Net Worth Individuals. However, juxtapose the Cities Wealth Index with the quality of life index and it gives a sobering reality check. But the overarching message is that quality of life — stability, crime control, effectiveness of law, health/education facilities, infrastructure — remains poor in Indian cities despite a rise in City Wealth Index. This is where Mumbai, sadly, brings ups the rear, whatever its dramatic rise in the City Wealth Index.

Source: Hindustan Times March 02, 2017 20:11 UTC