GlobalData says, it is due to increase in high-networth individuals The pandemic has transformed many travelers into high-networth individuals and made the super-wealthy even wealthier, according to GlobalData. The leading data and analytics company notes that 29% of respondents in one of its live polls state that their budgets are ‘a lot’ or ‘slightly’ higher than pre-pandemic. The luxury leisure market experienced a strong start to recovery as wealthy consumers, now with higher levels of disposable income, began to travel once again in 2021. FILE PHOTO: A horse-drawn carriage is pictured in Central Park during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., November 16, 2021. REUTERS/Carlo Allegri When looking at the US spe...
Read MoreTag: super rich
The share of household wealth owned by billionaires has risen by a record amount during the pandemic, with millionaires also coming out of COVID-19 ahead, a study found on Tuesday. The World Inequality Report produced by a network of social scientists estimated that billionaires this year collectively own 3.5% of global household wealth, up from slightly above 2% at the start of the pandemic in early 2020. "The COVID crisis has exacerbated inequalities between the very wealthy and the rest of the population," lead author Lucas Chancel said, noting that rich economies used massive fiscal support to mitigate the sharp rises in poverty seen elsewhere. FILE PHOTO: Luxury boats are seen during the Monaco Yacht Show, one of the most prestigious pleasure boat shows in the world, highlig...
Read More
You must be logged in to post a comment.