Despite economic headwinds, Ultra High Net Worth (UHNW) wealth continues to rise. Knight Frank estimates that there are 172,850 UHNW individuals globally, representing a 3% increase in the number from 2013 to 2014.
In terms of sheer numbers, the US will still be the dominant force in terms of its ultra-wealthy population in 2024, with the data forecasting a 25% increase in UHNWI numbers to almost 51,000, the biggest concentration in any single country.
Related Topics: building your clientele, business trends, client demographics, luxury market trends, VIP service, wealthy clients
LCT Publisher Sara Eastwood-Richardson and Dav El/BostonCoach CEO and NLA leader Scott Solombrino gave a state of the industry presentation Jan. 21, 2019 at Limo University's LABLive conference in Nashville, Tenn.
Here are the trends you should be keeping an eye on so you don't get left behind.
It may not be a shock to the industry, but the public should know who they are leaving their lives in the hands of.
Outside of staffing, 27% of this year’s respondents report escalating costs is their second greatest challenge.
JAN. LCT Editor's Edge: As with customers, you have to meet people where they are at and figure out what really works.
Millennials and their use of social media spur the rise in transparent user-generated platforms.
DEC. LCT Publisher's Page: The mission of this year was about focus, retooling, and turning a profit.
The TNC published a white paper that concludes most of its drivers are happy and earn more than minimum wage.
The results of an Egencia survey provide valued insights into the minds of chauffeured clients.
SEPT. LCT: Catering to mobile-minded travelers while using tech to enhance their experiences will propel your operations, expert Lenore D’Anzieri says.
SEPT. LCT Editor's Edge: If you stay out of the media black hole, you'll notice real life abounds with positive signs.
Spending is estimated to advance another 7.1% in 2018 and will expand to $1.7 trillion total by 2022.
The event provides a wide platform for the industry to promote its safety, comfort, and convenience advantages.
AUG. LCT: Here’s a checklist of changes to consider as you adapt your service to new client behaviors and expectations.
Here's some advice you won't have to read in the form of a large, clunky report.
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