Top of the Pyramid 2013

In our previous reports, we have looked at behavioural aspects of ultra HNIs and answered questions such as the priorities or motives of ultra HNIs when it comes to spending or investing, their actions as a class, their mindset and behaviour during times of adversity. The report continues to build on the foundation that Kotak Wealth Management and CRISIL Research laid two years ago to track ultra HNI trends year on year with specific reference to the Indian market.

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Introduction

The crisis engulfing the global economy has eased somewhat since our previous report (Top of the Pyramid 2012) but it is by no means out of the woods yet despite the modest recovery of the US economy.

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Spends

Last year most respondents dismissed the possibility of any scaling down on their spending because the economic climate both globally and domestically was subdued. Not too many expected the economic downturn to continue for long and were treating it as just a passing phase.

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Investments

Even though income growth was slower due to subdued economic growth in most countries and weak demand (that hurt businesses), wealth creation continued unabated during the year.

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Special Focus

As one of the world's oldest civilisations, India has a very rich and ancient heritage as far as luxury homes are concerned. Even today, some of the most expensive and luxurious buildings on the planet are in India.

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Quotes from the respondents

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