Connect with us

Maps

Where the Ultra-Rich Spend Their Holidays

Published

on

Where the Ultra-Rich Spend Their Holidays

Visualized: Where the Ultra-Rich Spend Their Holidays

There are more than 25,000 centi-millionaires around the world today, forming an elite club composed primarily of founders and heirs of family fortunes.

According to Henley & Partners, most of these individuals—who have more than $100 million in investable assets by definition—split their time between several properties each year.

To explore the destinations that are the most sought-after by the ultra-wealthy, we’ve visualized the cities that saw the biggest influx of seasonal centi-millionaire residents in 2022, using data from Henley & Partners.

Centi-Millionaire Vacation Hotspots

The top three seasonal vacation hotspots of the ultra-rich are found in the United States: Miami, the Hamptons, and Florida’s West Palm Beach.

This may not come as a shock given the concentration of centi-millionaires in the United States, with New York, the San Francisco Bay Area, and Los Angeles being home to the highest number of centi-millionaire residents in the world.

Regardless of where they live year-round, the table below reveals where these elites flock for seasonal getaways in their secondary homes.

RankCity or TownYear-Round Centi-Millionaire Residents, 2022Peak Holiday Month Centi-Millionaire Residents, 2022
1🇺🇸 Miami, Florida160800
2🇺🇸 The Hamptons, New York25700
3🇺🇸 West Palm Beach, Florida64400
4🇫🇷 Paris, France126300
5🇺🇸 Santa Barbara & Montecito, California82200
6🇺🇸 San Diego, California70200
7🇫🇷 Nice, France60200
8🇺🇸 Napa, California28200
9🇵🇹 Golden Triangle, Algarve, Portugal20200
10🇺🇸 Aspen, Colorado6200
11🇺🇸 Carmel-by-the-Sea, California40150
12🇺🇸 Boca Raton, Florida38150
13🇵🇹 Lisbon, Portugal35150
14🇨🇭 Lugano, Switzerland30150
15🇫🇷 Cannes, France20150
16🇫🇷 Antibes, France18150
17🇺🇸 Jackson Hole, Wyoming10150

The data above only considers centi-millionaires vacationing in their secondary residences, therefore excluding hotel stays, holiday rentals, and yachts. Peak holiday months vary for each location.

Beyond the 10 U.S. cities that constitute the top 17 centi-millionaire seasonal hotspots, we come across several French cities on the list, including Paris, Nice, Cannes, and Antibes, as well as Portugal’s Golden Triangle and Lisbon.

Global Centi-Millionaire Trends

According to Henley & Partners’ 2023 Centi-Millionaire Report, the global centi-millionaire population is expected to grow by 38% in the next decade, reaching nearly 40,000 by 2033.

Much of this growth is expected to be seen in countries such as China, India, and Saudi Arabia. China’s Hangzhou and Shenzhen, specifically, are expected to see the highest percentage growth in centi-millionaire populations through 2033, growing by 95% and 88%, respectively.

Despite the rapid growth of the wealthy in the global East, however, it’s notable that many centi-millionaires are still graduating from American universities.

More than half of the top 20 universities with the most centi-millionaire alumni are in the United States, with Harvard, Stanford, and the University of Pennsylvania making up the top three spots.

Click for Comments

Personal Finance

Mapped: The Income a Family Needs to Live Comfortably in Every U.S. State

Families in expensive states require over $270,000 annually to live comfortably.

Published

on

A map showing the income that two working adults with two children need to live comfortably in each U.S. state.

The Income a Family Needs to Live Comfortably in Every U.S. State

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Families in the top five most expensive U.S. states require an annual income exceeding $270,000 to live comfortably.

This visualization illustrates the income necessary for two working adults with two children to maintain a comfortable lifestyle in each state.

“Comfortable” is defined as the income needed to cover a 50/30/20 budget, with 50% allocated to necessities like housing and utilities, 30% to discretionary spending, and 20% to savings or investments.

The calculations for family income needed in each state were done by SmartAsset, using the cost of necessities sourced from the MIT Living Wage Calculator, last updated on Feb. 14, 2024.

Massachusetts Tops the List

Massachusetts is the most expensive state to live comfortably in, requiring a total family income of about $301,184. Hawaii ($294,611) comes in second, followed by Connecticut ($279,885).

Housing is one main reason Massachusetts is an expensive state to live in, particularly in the Boston area. In addition, the state also has a high cost of living, including expenses such as healthcare and utilities.

RankStateIncome for 2 working adults raising 2 children
1Massachusetts$301,184
2Hawaii$294,611
3Connecticut$279,885
4New York$278,970
5California$276,723
6Colorado$264,992
7Washington$257,421
8Oregon$257,338
9New Jersey$251,181
10Rhode Island$249,267
11Vermont$248,352
12Minnesota$244,774
13New Hampshire$244,109
14Alaska$242,611
15Maryland$239,450
16Nevada$237,286
17Virginia$235,206
18Illinois$231,962
19Arizona$230,630
20Pennsylvania$230,464
21Maine$229,549
22Delaware$228,966
23Wisconsin$225,056
24Utah$218,483
25Michigan$214,490
26Nebraska$213,075
27Georgia$212,826
28Montana$211,411
28Iowa$211,411
30Idaho$211,245
31North Carolina$209,331
31Ohio$209,331
33Florida$209,082
34Indiana$206,003
35New Mexico$203,923
36Wyoming$203,424
37Missouri$202,259
38North Dakota$202,176
39Texas$201,344
40South Carolina$200,762
41Kansas$196,768
42Tennessee$195,770
43Oklahoma$194,106
44Alabama$193,606
45South Dakota$192,608
46Kentucky$190,112
47Louisiana$189,613
48West Virginia$189,363
49Arkansas$180,794
50Mississippi$177,798

Meanwhile, Mississippi is the least expensive state for a family to live comfortably, requiring $177,798 per year. Arkansas ($180,794) comes in second, followed by West Virginia ($189,363). In common, all these states share low prices of housing.

Learn More About Cost of Living From Visual Capitalist

If you enjoyed this post, be sure to check out this graphic, which ranks the median down payment for a house by U.S. state.

Continue Reading
Visualizing Asia's Water Dilemma

Subscribe

Popular