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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.

4%

Percentage of the world’s wealth

controlled by billionaires

€22.9

million

The revenue generated by the charter market

in the Balearics since the tax exemption was

put in place at the end of 2013

BILLIONAIRE FORECAST

Source: Wealth-X

3,

800

3,600

3,400

3,200

3,000

2,800

2,600

2,400

2016

2017

2018

2019

2020

C.A.G.R

High

9.4%

C.A.G.R

Mean

5.6%

C.A.G.R

Low

3.5%

3.7%

2.4%

7.8%

7.0%

7.4%

THE STATE OF WEALTH, LUXURY AND YACHTING

18

THE STATE OF WEALTH