13 | May | 2012 | wealthymatters

On What Do India’s Wealthy Spend Their Money?

May 13, 2012 1 Comment

wealthymatters What do India’s wealthy like to buy with their buckets of money?

Customized holiday packages, luxury watches, diamonds and jewelry, and home electronics (including fancy mobiles and high-end cameras) — in that order.They buy luxury cars, too, but not Ferraris and Lamborghinis as one would expect. More like Honda and Toyota, according to the study conducted by Kotak Wealth Management and rating and research firm Crisil Ltd.The wealthy here are defined as households with a minimum average net worth of 250 million rupees ($5.6 million) for the financial year ended March 31, 2011.

Researchers interviewed 150 super-wealthy individuals in India’s major cities of Mumbai, Delhi and Bangalore, and others like Hyderabad, Ahmedabad and Chennai to put together the study. Senior personnel at major global luxury brands, art gallery owners, product dealers and industry body representatives were also interviewed. Read more of this post

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Habits Of Affluent Indians

May 13, 2012 3 Comments

wealthymatters Want an insight into the habits and lifestyle of affluent Indians? The Nielsen Upper Middle and Rich (UMAR) survey is a good place to begin.

The survey looked at various parameters such as employment of domestic help (maid/driver, holiday trips abroad, dining out habits, Laptop/Desktop ownership, Air-Conditioner, Car, Television, Microwave, Washing Machine, and number of family members with internet connection at home and the type of connection used. Read more of this post

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How Much Might An Affluent Lifestyle Cost in India ?

May 13, 2012 Leave a comment

wealthymatters In this post here:http://expertscolumn.com/content/rich-india ,the author writes that ‘the defination of proverty enunciated by the governments own man,the clown Montek Singh as Rs 28 per day. The affluent normally spend 25 times this amount everyday or even more.’This got me interested and I decided to do some basic math.Here are the results:

An affluent person spends atleast 700 rupees a day.

He/She spends atleast 21,000 rupees in a 30 day month.

This works out to an expenditure of atleast 2.55 lakh rupees per affluent person a year.

Also an affluent family of four would spend atleast 84,000 rupees a month and 10.22 lacs per year.

Are these families wealthy?Probably not all.But they definitely have a decent income and/or access to consumer credit.They have money and a willingness to spend it on living it up now.