Mega-Rich Spend More on Vacations, Less on Bling
By Robert Frank | CNBC – Wed, Sep 5, 2012 10:52 AM EDT
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The spending of the super-rich is no longer just about stuff and status. It's more about memories and moments. And lots of home renovations.
A new study from Spectrem Group, the Lake Forest, Ill.-based research group, shows that people with a net worth of $25 million spend far more on vacations and home renovations than they do on clothing, cars and jewelry.
A new study from Spectrem Group, the Lake Forest, Ill.-based research group, shows that people with a net worth of $25 million spend far more on vacations and home renovations than they do on clothing, cars and jewelry.
The survey showed that nearly half of the respondents spent more than $25,000 a year on vacations or leisure travel. More than a third spent more than $25,000 on home improvements. Vacations and home improvement were among the top categories for the spending of the ultra-wealthy.
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