Wealthy Indians sure know what a buck well spent is. In FY19, education topped the list of major expenditure for the ultra rich, followed by travelling and entertainment. What’s money if not to live your life in leisure? According to the Hurun India Luxury Consumer Survey, they prefer to spend leisure time travelling, with UK being the most popular international tourist destination, followed by Italy and Maldives. And it seems like knowledge is gaining heavier ground when it comes to the rich’s time and money; reading is the second most popular thing to do in leisure. While most of them are following a ‘risk-averse’ philosophy this year, art is the top collectible they are ready to spend lavishly on. When it comes to showering friends and families with gifts, watches topped the list for men, and surprise, surprise, jewellery in the case of women. Electronics and wine are also up there among the most popular gifts for men. An interesting insight showed that HNIs still prefer their daily black and white newspapers to TVs or digital apps as a source for information. Who said the days of print were over?
