Want to See How Your Bills Stack Up Against “Super-Rich” Spenders ?
According to the 2007 Elite Traveler survey, the super affluent are planning major spending sprees this summer. The survey, which polled some 200 super-rich families, indicates that spending across 17 luxury categories will rise to $622,200 this summer as compared to $399,000 during the same period last year.
The three areas designated for increased spending are audio-visual products, with an increase of 120%, designer apparel and accessories with a 112% surge, and stays at luxury resorts (up by 78%).
Another flourishing area is that of jewelry and watches. No less than 73% of those interviewed plan to splurge on fine jewelry and luxury watches. The average layout will come to about $94,000, which constitutes a 50% increase over last summer.
Elite Traveler CEO Douglas Gollan noted: “Unlike mass-affluent consumers who may splurge and charge credit cards to buy jewelry or watches for the holidays, it is interesting to see that the super-rich spend money on virtually every type of luxury good and service on a continuous basis.”
