What do India's ultra-wealthy spend their money on? Knight Frank Report | UHNI Report 2023
11 Aug, 2023
Where does the average citizen of the country spend his money? Money is invested in gold for a house, automobile, or any other investment. But do you know where the country's ultra-high net worth individuals will be spending their money in 2023?
What does the report say?
According to a Knight Frank assessment, the country's super-rich Indians will spend their money on art, watches, and luxury handbags in 2023. Aside from that, more than half of the ultra-high net worth individuals spend their money on items such as antique vehicles, wine, and furniture. This paper demonstrates how the world spends money on pricey hobbies. Only about 5% of the world's ultra wealthy spend their money on these pricey pastimes.
More than half of Indians, or 53%, like to spend equally on art, luxury handbags, and watches, which is an expensive habit of the exceedingly rich. Jewelery accounts for 41% of these assets, antique automobiles for 29%, and the rest are divided among furniture, rare whiskies, coloured diamonds, and coins.
