This is Where the World’s Richest People Will Be Spending Their Money
Knight Frank’s 2015 Wealth Report has been released along with its predictions on where the world’s wealthy elite will be spending their money this year — and the United States didn’t even make the top 10.
The list was based off of a real estate analysis that considered luxury store “footprints,” a country’s wealth growth and their population of ultra high-net-worth individuals (UHNWI) who are worth $30 million and up.
Earning first place as the locale to be for the ultra wealthy is the U.K., which scored a 9/10 for their luxury store footprint, meaning their designer stores and boutiques are highly accessible, and an 8/10 for premium travel and spending. London is also home to the world’s most expensive apartment building.
China unsurprisingly came in second place, as it’s well known that the country is a spawning pool for new millionaires and billionaires; China has the highest amount of UHNWI citizens in the world. Wealthy Chinese also clearly , as China scored a perfect 10/10 for their luxury goods footprint.
Qatar and Canada took the the third and fourth spot, respectively, due to their high wealth growth and import of luxury goods.
Most surprisingly, India came in fifth. The country is known for its massive population, much of which lives under the poverty line. Like China, however, India has new millionaires and billionaires springing up at a high rate as the country goes through rapid development.
If you were worth $30 million or more, where would you spend your money?