Wealth-X Launches First Edition of the “Global Luxury Outlook”

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New Report Takes a Holistic View of the Luxury Industry as it Relates to the Wealthy

Wealth-X, the world’s leading provider of data and insight on the wealthy, today released "The Global Luxury Outlook 2020: A World of Changing Preferences" which explores the interlocked relationship between wealth growth and the development of the luxury goods and services industry.

The new report takes a holistic view of the world of luxury, seeing it as its own category that includes luxury goods and lifestyle services, fine art, private jets, yachts, cars, travel, real estate and other assets. The Global Luxury Outlook uncovers how wealthy individuals approach luxury in their lives and how this relationship is changing in the face of COVID-19.

Within the Global Luxury Outlook is the “Global Luxury City Index” which benchmarks cities on specific criteria to find the world’s top 15 cities where wealth, luxury retail and a luxury lifestyle are most deeply entwined. The report also provides a detailed analysis of the wealthy population’s affinity for luxury, gaining an insight into how the level of propensity to own luxury assets varies among cities and according to certain key characteristics such as wealth source, gender and age.

Other key highlights from the Global Luxury Outlook 2020, include:

  •     New York leads the Global Luxury City Index, followed by Tokyo and Hong Kong
  •     Asia dominates the Index, with eight of the top 15 cities located within the region
  •     COVID-19 is changing the luxury habits of the wealthy, with an increased premium on privacy and flexibility
  •     Notable differences in the ultra wealthy owners of private jets, yachts or art collections

For the complete findings, download the full report at http://www.wealthx.com/insights-resources/

About Wealth-X
The global leader in wealth information and insight, Wealth-X partners with prestige brands across the financial services, luxury, nonprofit and higher-education industries to fuel strategic decision-making in sales, marketing and compliance. Wealth-X has developed the world’s largest collection of records on wealthy individuals and produces unparalleled data analysis to help organizations uncover, understand, and engage their target audience, as well as mitigate risk. Founded in 2010, with staff across North America, Europe and Asia, Wealth-X provides unique data, analysis, and counsel to a growing roster of over 500 clients, worldwide.

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Michael Phillips
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