Super Wealth Continue to Spend on Luxury Goods
A new survey by Prince & Associates indicates that the super wealthy will increase their spending in luxury goods according to an article by Toni Blake in Wealth Briefing.The Elite Traveler/Prince & Associates 2008 Affluent Consumer Spending Survey polled a panel of more than 600 affluent US consumers who had net worth of at least $1 million. Overall, the wealthy expect the economy to worsen in 2008. But 84% of the super wealthy said the current economic environment represents an investment opportunity, and they will continue to spend more on luxury products and services and increase donations to charitable organisations more than ever before.