luxurybrands

A surge in the number of millionaires and a shift in luxury consumer behaviour in emerging markets in the coming decade present opportunities for brands that serve the wealthy, according to Decades of Wealth: The Next 10 Years In Wealth & Luxury, a new report released by Wealth-X today.

Below are some of the key findings from the study:

  • Emerging markets such as India and South Africa will see their millionaire populations rise significantly in the coming decade.

  • There will be 437,000 millionaires In India by 2018, and that number is projected to double by 2023.

  • Wealth growth in Africa – particularly in the key markets of South Africa, Nigeria and Kenya – will continue, at a rate of over 10% per annum.