10 March 2018 Current Affairs: Mumbai ranks 16th among the top 20 costliest cities in the world, according to the Knight Frank Wealth Report 2018.
The rise in Indian financial capital’s ranking on this count is supported by the rapid wealth creation in the country.
The index is drawn from four major indicators: wealth, investments, lifestyle, and future.
Guangzhou, a city in China, tops the list with property prices appreciating by 27.4% in the last one year.
Top 3 Wealthiest Cities in the Report are-
2. Hong Kong
3. New York.