Research
July 16, 2025
Julius Baer’s annual index tracks the cost of luxury living across 25 cities and multiple product and service categories. Image credit: Singapore Airlines
By Amirah Keaton
Spending patterns among high-net-worth individuals are increasingly favoring wellness, luxury travel and personal services, according to a new report.
{"ct":"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","iv":"0d511ad6eaa773b8112e5fecf139c89d","s":"23df00bc76a697fa"}
Share your thoughts. Click here