Global Wealth and Lifestyle

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The 2024 Global Wealth and Lifestyle Report indicates that affluent individuals are still willing to invest in their lifestyles despite rising living costs and inflation, with a 4% average price increase in high-end goods and services globally [6][10][30] - The Julius Baer Lifestyle Index shows that Singapore remains the most expensive city, with London returning to the top three, while Shanghai drops to fourth place [13][24] - The report highlights a significant increase in spending on hospitality, travel, and luxury goods among high-net-worth individuals (HNWIs), with a notable focus on health and wellness investments [10][11][41] Summary by Sections The Julius Baer Lifestyle Index - The index tracks the cost of a basket of 20 goods and services representing discretionary purchases by HNWIs across 25 cities [22][23] - In 2024, the index reflects a global average price increase of 4% in USD terms, with goods rising by 5% and services by 4% [27][30] - Major cities have seen significant shifts in rankings, with Zurich moving up eight positions, while Tokyo has dropped significantly [12][13] Regional Overviews - The Americas have become the least expensive region, while EMEA has seen a rise in costs, driven by currency fluctuations and geopolitical instability [14][24] - The APAC region has dropped to second place, with cities like Tokyo experiencing a decline in their rankings [6][10] Lifestyle Survey - The survey indicates that 70% of HNWIs reported increased assets over the past year, with a strong focus on wealth creation and investment [10][11] - Spending on luxury travel and hospitality surged, particularly in the Middle East and APAC regions, with a notable increase in demand for five-star hotels [41][43] - Health and wellness have emerged as key areas of investment, with a significant rise in discretionary health spending among HNWIs, especially in APAC [11][45]