Spotlight on billionaires
Billionaires (individuals with a net worth of
$1 billion or more) control 4% of the world’s
wealth. They are global citizens, choosing
their residences and business holdings not just
because of government regulations – but also
because of the unique benefits that a specific
location can offer.
For instance, New York’s role as the financial
capital of the world has helped attract new
billionaire financiers. In addition, certain
cities are particularly attractive because
of the lifestyle they offer, from cultural
attractions to a desirable environment
in which to raise a family.
Other locations, such as the Balearics and
Alicante, for example, have proven to be
popular locations with superyacht owners
who wish to make their vessels available
for charter. This is due to a tax exemption
which was put into place in October 2013.
A report by the Spanish association of
superyachts (AEGY) shows that the two
areas hold 21% and 18% of the market sector
respectively. While figures from a separate
study by AEGY on the Balearics show that in
2014, 52 superyachts registered to charter.
In 2015 this number jumped to 86. Over the
two-year period, the charter market in the
Balearics is thought to have generated
€22.9 million. This is just an example of
how certain countries and areas can be
attractive to superyacht owners.
Percentage of the world’s wealth
controlled by billionaires
The revenue generated by the charter market
in the Balearics since the tax exemption was
put in place at the end of 2013
THE STATE OF WEALTH, LUXURY AND YACHTING
THE STATE OF WEALTH