Where The Ultra-Rich Spend Their Holidays

Where The Ultra-Rich Spend Their Holidays There are more than 25,000 centi-millionaires around the world today, forming an elite club composed primarily of founders and heirs of family fortunes. According to Henley & Partners, most of these individuals – who have more than $100 million in investable assets by definition – split their time between several properties each year. To explore the destinations that are the most sought-after by the ultra-wealthy, Visual Capitalist’s Selin Oğuz and Christina Kostandi visualized the cities that saw the biggest influx of seasonal centi-millionaire residents in 2022, using data from Henley & Partners. Centi-Millionaire Vacation Hotspots The top three seasonal vacation hotspots of the ultra-rich are found in the United States: Miami, the Hamptons, and Florida’s West Palm Beach. This may not come as a shock given the concentration of centi-millionaires in the United States, with New York, the San Francisco Bay Area, and Los Angeles being home to the highest number of centi-millionaire residents in the world. Regardless of where they live year-round, the table below reveals where these elites flock for seasonal getaways in their secondary homes. Rank City or Town Year-Round Centi-Millionaire Residents, 2022 Peak Holiday Month Centi-Millionaire Residents, 2022 1 🇺🇸 Miami, Florida 160 800 2 🇺🇸 The Hamptons, New York 25 700 3 🇺🇸 West Palm Beach, Florida 64 400 4 🇫🇷 Paris, France 126 300 5 🇺🇸 Santa Barbara & Montecito, California 82 200 6 🇺🇸 San Diego, California 70 200 7 🇫🇷 Nice, France 60 200 8 🇺🇸 Napa, California 28 200 9 🇵🇹 Golden Triangle, Algarve, Portugal 20 200 10 🇺🇸 Aspen, Colorado 6 200 11 🇺🇸 Carmel-by-the-Sea, California 40 150 12 🇺🇸 Boca Raton, Florida 38 150 13 🇵🇹 Lisbon, Portugal 35 150 14 🇨🇭 Lugano, Switzerland 30 150 15 🇫🇷 Cannes, France 20 150 16 🇫🇷 Antibes, France 18 150 17 🇺🇸 Jackson Hole, Wyoming 10 150 The data above only considers centi-millionaires vacationing in their secondary residences, therefore excluding hotel stays, holiday rentals, and yachts. Peak holiday months vary for each location. Beyond the 10 U.S. cities that constitute the top 17 centi-millionaire seasonal hotspots, we come across several French cities on the list, including Paris, Nice, Cannes, and Antibes, as well as Portugal’s Golden Triangle and Lisbon. Global Centi-Millionaire Trends According to Henley & Partners’ 2023 Centi-Millionaire Report, the global centi-millionaire population is expected to grow by 38% in the next decade, reaching nearly 40,000 by 2033. Much of this growth is expected to be seen in countries such as China, India, and Saudi Arabia. China’s Hangzhou and Shenzhen, specifically, are expected to see the highest percentage growth in centi-millionaire populations through 2033, growing by 95% and 88%, respectively. Despite the rapid growth of the wealthy in the global East, however, it’s notable that many centi-millionaires are still graduating from American universities. More than half of the top 20 universities with the most centi-millionaire alumni are in the United States, with Harvard, Stanford, and the University of Pennsylvania making up the top three spots. Tyler Durden Sun, 10/15/2023 – 08:45