LuxuryCenti-millionaires yearn to get into the great outdoors

How to market to the super-rich: It’s not all super yachts and private planes

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Multinational living and mountain bike riding are gaining the attention of the world’s richest citizens.
Multinational living and mountain bike riding are gaining the attention of the world’s richest citizens. Photo Credit: Ian Jarrett

They’re called centi-millionaires, the super, super rich who possess US$100 million or more in investable assets.

There are just 25,490 centi-millionaires across the globe, according to research by Henley&Partners, and their numbers have more than doubled over the past 20 years.

As a luxury travel agent, how do you cater for these ultra-high-net-worth individuals who think nothing of splashing out for a US$ 1 million Patek Philippe watch, fine art and classic cars such as a 1960s Ferrari 250 GTO, valued at US$40 million?

Luxury yachts, Greek villas and private planes no longer cut the mustard, it seems.

Instead, mountain bike adventures and fly fishing holidays attract the super-rich, Henley&Partners says.

The United States is home to 38% (9,730) of global centi-millionaires, despite constituting only 4% of the world’s total human population.

The big emerging markets of China (2,021) and India (1,132) rank significantly higher than the main European markets by the number of centi-millionaires living in the country, with the UK in 4th place, followed very closely by Germany in 5th place.

Henley&Partners says the concentration of wealth is likely to move East. At around 57%, the growth of centi-millionaires in Asia will be twice that of Europe and the US over the next 10-year period.

A little surprisingly, the fastest growing market for centi-millionaires over the next decade is forecast to be Vietnam, with an astonishing 95% growth rate predicted. India is next in line with an anticipated 80% growth rate in individuals worth over US$100 million by 2032.

“Centi-millionaires are the new global citizens — and multinational living is now key to their wealth management strategies,” Henley&Partners says.

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