Bengaluru stands out as a leader in socio-economic development, fueled by its dynamic service sector and its appeal to a highly skilled talent pool from across India and abroad, according to the Knight Frank Prime City Index report.
The city boasts the highest workforce participation rate in the country at 76% and maintains an impressive unemployment rate of 1.8%, the lowest among six major cities analyzed—Delhi NCR, Mumbai, Hyderabad, Chennai, Bengaluru, and Ahmedabad.
Despite recent turbulence in the startup ecosystem, Bengaluru’s economy has shown remarkable resilience, thanks to its diversified industries. Knight Frank highlighted the city’s robust real estate performance, with residential sales in 2023 hitting a nine-year high of 54,046 units, reflecting continued economic stability and confidence.
As per the Hurun India Rich List 2024, Bengaluru ranks fourth among Indian cities, home to 100 wealthy individuals, including 27 billionaires. On the commercial front, the city leads as a preferred destination, contributing 21% of total office space transactions across major Indian cities. This is driven by firms resuming in-office operations, stable multinational investments, and the growth of domestic businesses.
While Bengaluru excels in overall economic metrics, Hyderabad emerges as India’s fastest-growing city, fueled by booming infrastructure, rising real estate demand, and a surge in ultra-high-net-worth individuals, making it a competitive destination for investors.
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