Johannesburg has emerged as the most well-priced place for luxury in the 2021 index.This region is the most expensive place for healthcare, but personal technology remains affordable, as the US is home to many of the world’s technology titans. Just one city in the Americas (New York) remains in the top ten. Mexico City and Vancouver are amongst the most affordable cities in the index. This is mostly due to the price of the US and Canadian dollars falling against other major global currencies and a sharp devaluation of currencies in Latin America. The Americas is the most affordable region for living a luxury lifestyle this year.Tokyo and Hong Kong are the second and third most expensive cities, respectively – yet the picture remains mixed, with Mumbai still one of the places where wealth goes the furthest. Shanghai is now the most expensive city in the index, stealing the top spot from Hong Kong. Asia remains the most expensive region, partly because of the region’s swift recovery from the global health crisis, currency stability, and price resilience for the index items.What’s also new is that there are 12 special city portraits, which showcase testimonials from local residents, market analysis from our Julius Baer regional experts and research data. This is the Index’s second year considering global trends, following its expansion from the Asia Lifestyle Index in 2020. This year’s report covers how lifestyles, regions, and wealth are changing across 25 major cities globally.
Julius Baer’s Global Wealth and Lifestyle Report 2021 explores the evolving world of high-end consumption.
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