If you’re wealthy, Asia Pacific is the most expensive place to live in, with Shanghai overtaking Hong Kong as the priciest city in the world. Those are some of the key findings from a Julius Baer Group Ltd. report about luxury lifestyles released Friday, which stated that part of the reason for the region’s success was its swift recovery from the coronavirus pandemic. By contrast, the Americas is the most affordable because of the slump in the U.S. and Canadian dollars and sharp devaluations of Latin American currencies. Asian cities are more expensive partly because “Covid didn’t become an epidemic quite the same way it unfortunately became in the other cities in the index,” said Rajesh Manwani, Julius Baer’s Head of Markets & Wealth Management Solutions in Asia Pacific. “So they were able to function more normally than the others.”
For the Rich, Living in Asia Is Costlier Than Anywhere Else
This content was published on April 9, 2021 - 04:56
April 9, 2021 - 04:56
(Bloomberg) If you’re wealthy, Asia Pacific is the most expensive place to live in, with Shanghai overtaking Hong Kong as the priciest city in the world.
Those are some of the key findings from a Julius Baer Group Ltd. report about luxury lifestyles released Friday, which stated that part of the reason for the region’s success was its swift recovery from the coronavirus pandemic. By contrast, the Americas was the most affordable because of the slumps in the U.S. and Canadian dollars and sharp devaluations of Latin American currencies.
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Julius Baer Publishes Global Wealth And Lifestyle Report 2021
A notable emerging global trend mentioned in the previous edition of the Global Wealth and Lifestyle Report was the rise of conscious consumption.
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In a wide-ranging index, Julius Baer tracks prices and consumer behaviour around the world to gauge the price inflation of a basket of goods and services representative of the HNWI lifestyle in cities around the world. With this, investors can estimate the portfolio returns needed to preserve, or even grow, their purchasing power.
A focal point in the latest edition is the impact of COVID-19 on high-end consumption: did the pandemic fundamentally rewire the global consumer’s mindset, or did it accelerate trends that were already set in motion? The findings of the Julius Baer Lifestyle Index 2021 show the continuation of many of the underlying trends of recent years, with COVID-19 impacting prices sharply in specific travel-related areas s
This is the world’s priciest city, and it is not Hong Kong The Covid-19 crisis that has swept through the world and left hordes of people without jobs has also enriched the wealthy 09 April 2021 - 10:56 Yoojung Lee and Denise Wee Skyscrapers are shown in Shanghai s financial district in this aerial photo. The city has overtaken Hong Kong as the world s most expensive city, according to a recent Julius Baer Group luxury lifestyles report. Picture: 123RF/ZHAO JIANKANG
Seoul/Hong Kong If you’re wealthy, Asia-Pacific is the most expensive place to live in, with Shanghai overtaking Hong Kong as the priciest city in the world.
Business Class ticket rates actually rose in 2020 despite grounded flights: Julius Baer gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.