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Hurun Indian Report Reveals Where Rich Indians Spend Money

| Published on August 31, 2019

Hurun Indian Luxury Consumer Survey 2019 was released this Friday.

This is the first year that The Hurun Research Institute has published a report to changes in lifestyle, consumption habits and brand cognition of high-net-worth individuals in India (HNIs).

The “Hurun India Rich List” features 831 richest Indians.

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Here are some findings from the report.

1. The UK is the most preferred overseas investment destination, followed by Singapore.

2. The UK is also the most popular international tourist destination, followed by Italy and Maldives.

3. More than one fourth said that their investment philosophy for this year will be avoiding risk.

4. Real Estate and Stock Market are the most preferred personal investments.

5. Education tops the list of major expenditure, followed by traveling and entertainment.

6. The newspaper followed by TV is the preferred choices for HNIs to access information.

7. Amongst collectibles, Indian HNIs prefer to spend the most on art.

8. The most popular Indian liquor brand is Old Monk.

9. Watches top the most popular gift for men list. Electronics ranks second and Wine and Imported Spirits third in the most popular gift for men.

10. Jewelry takes the first position in most popular gifts for ladies and accessories and gift cards take second and third positions respectively.

11. Visa/ Master Card based credit/ debit cards are the most preferred mode of payment among the HNIs.

Males and females accounting for 58% and 42% respectively comprised of the survey respondents with an average age of 35 years. 51% are married, 46% are unmarried, and 2% are divorced. Their wealth sources are mainly composed of investment, dividends, and wages. They come from many states and cities across India, including Delhi, Bangalore, Mumbai and major second-tier cities and overseas cities, of which 64% are in the north and south.

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