Private Banks

Julius Baer publishes Global Wealth and Lifestyle Report 2022

Julius Baer has released its third edition of the Global Wealth and Lifestyle Report, which takes a basket of consumer goods and services that reflect the spending patterns of high-net-worth individuals and analyses their prices in 24 key cities around the world. This year’s edition focuses on the yearly changes in the cost of living well, which, in the last year, has risen significantly for wealthy individuals. Asia continues to be the most expensive region in the world, with Shanghai retaining first position in the rankings.

Using its wide-ranging Lifestyle 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 high-net-worth-individual (HNWI) lifestyle in cities around the world. With this, investors can estimate the portfolio returns needed to preserve, or even grow, their purchasing power. This is the third edition of the report with a global scope.

For the first time, the report also includes a Lifestyle Survey that asks HNWIs across the world about their consumption, spending, and investment habits. The results offer a deeper understanding of the lifestyle trends identified by the Lifestyle Index and support the findings with personal sentiments.

 

Nicolas de Skowronski, Head Wealth Management Solutions and Member of the Executive Board of Bank Julius Baer said: “Ongoing global uncertainty, prompted by the pandemic, and sustained by rising inflation and increased geopolitical tension, has only sharpened the need for investors to protect their purchasing power and, in the long term, actively plan to preserve their wealth.”

 

Mark Matthews, Head of Research, Asia Pacific, Bank Julius Baer, added: “Asia continues to be the most expensive region in the world with four cities in the top five, reflecting their growing statuses as centres of global wealth. Our Lifestyle Index provides HNWIs with better insights to their personal inflation rates based on where they live, the products and services they buy, and even their interests. With the index showing that prices of goods have increased 15% and services 22% on average in the last year, the purchasing power of wealthy individuals have been impacted. Against this backdrop, it is important to couple these insights with a good wealth management strategy to stem this erosion, in order to preserve and even grow wealth under the current conditions.”

To download the Julius Baer Global Wealth and Lifestyle Report 2022, please visit:
https://www.juliusbaer.com/en/spotlight/global-wealth-and-lifestyle-report-2022/