12 Secret Luxuries the Wealthy Splurge On That Others Skip

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The word ‘luxury’ gives off the impression of opulence, grandeur, and a wonderfully insouciant world set far removed from the mundane experiences of the average person – a world accessible only to the rich. Have you ever wondered what sorts of secret luxuries the rich people splash their dime on?

A 2021 Wealth-X survey found the global population of the ultra-wealthy holds $35.5 trillion in investable assets. With this financial freedom, they are privy to parts of life that many may not even think twice about. Read on for twelve secret luxuries that the wealthy indulge in.

Art and Rare Collectibles

Secret Luxuries the Wealthy Splurge On That Others Skip — Photo Credit: Brett Sayles/Pexels

For many wealthy individuals, art and rare collectibles are more passion than financial investment. These are treasures for which there is both aesthetic pleasure and the potential for financial growth, plus the extra sensibility of being exclusive and rare.

As an asset class, art sustains a popularity that has risen continuously, according to the Art Basel and UBS Global Art Market Report, with 2021 revenue valued at $65.1 billion. The collectors are eager to get pieces that tell a story and imbibe cultural significance and are eager to use them to beautify their living spaces.

Exclusive Clubs and Memberships

Ownership of the right to access exclusive clubs and memberships provides a great mixture of networking opportunities and recreational luxury. Elite golf courses, private dining clubs, and yacht memberships are all a path to a globally elite club of the privileged.

According to Wealth-X data, these memberships are viewed by high-net-worth individuals as valuable social capital, providing access to important figures and like-minded peers. Such clubs may also enjoy exclusivity, which creates their allure by providing the members an environment to relax and also create meaningful relationships.

Personal Chefs and Nutritionists

Personal chefs and nutritionists provide a level of culinary indulgence personalized to taste and dietary requirements. The wealthy can afford to have a team dedicated to preparing gourmet meals for them as a sign of commitment to health and enjoyment.

According to IBISWorld, as of 2023, there are 6,251 Personal Chef Services businesses in the US; a net increase of 6.1% from 2022. Nutritionists fill in the complementary role by helping develop healthy meals that are in line with a client’s health goals and preferences.

Estate-Level Homes with Amenities

For the wealthy home is not just the place to live, it’s a sanctuary that immortalizes one’s values and aspirations. A lifestyle of unparalleled luxury is offered in form of estate-level homes equipped with private cinemas, indoor pools, wine cellars, and state-of-the-art home automation systems.

A report by Luxury Portfolio International indicates that the demand for upscale real estate with custom features has shot up since 2021. These homes are comfort and convenience homes, with spaces designed to suit the owner’s taste and interests.

Custom Travel Experiences

For the wealthy, traveling the world requires bespoke experiences, custom itineraries, exclusive private guides, and special accommodations. They bypass group tours in favor of traveling the world on their own terms and visiting destinations that suit their fancies.

The Virtuoso report reveals that personalization is now moving the luxury travel market in the direction of tailor-made travel. This trend is about the desire to be immersive and authentic, so travelers can connect with real cultures and real landscapes.

Time-Saving Services

In this day and age, where time is money, wealthy people pay to have things done that free up parts of their day to do what they actually value. Personal shoppers, housekeepers and concierge services allow freed up time to focus on what’s important. As more services make everyday tasks easier, time-saving services are becoming increasingly popular among consumers as they’re quick and easy to navigate and guarantee that tasks are handled with attention to detail.

Time is a limited good for the wealthy and needs to be spent wisely. Instead of micromanaging their routines and capabilities, they outsource them, which frees up time and space for growth both personally and professionally.

Luxury Vehicles and Chauffeurs

For the wealthy, transportation is a grand status symbol and a harbinger of comfort. Luxury vehicles combine the performance of high-end cars with the style of full-time chauffeurs in a unique blend that separates them.

According to data from the International Organization of Motor Vehicle Manufacturers (OICA), luxury car sales have grown by 15% and premium transportation is in demand. The development of these vehicles is to deliver truly great driving with the latest technology and quality craftsmanship. They offer another convenient level with chauffeurs who allow for a luxurious ride.

Private Education and Tutors

For wealthy families, education is important, and they spend money on private schools, tutors, or specialized coaching to ensure that their children get off to the best possible start in life. Other than academics, these resources provide avenues for holistic development and personal growth.

A report by ISC Research found there’s been a 22% increase in enrollments of affluent families into the private education market. This trend tells us how much people value individual attention and tailored learning experiences.

High-End Health Care

Access to top-tier medical care is a priority for the wealthy, such a guarantee of peace of mind and well-being. It comes at a price, however, and demand is high for concierge medicine, private hospitals and cutting‐edge treatments that combine convenience and personalization with care and a level of personal care.

An American Academy of Private Physicians study backs this trend, reporting a 25 percent increase in wealthy patient membership as more people seek out better health care. These options give the patient direct access to specialists, shorter waiting times as well as improved access to preventive care.

Custom-Tailored Clothing

Custom made clothing is a luxury worn by many wealthy people who choose to see personal style as an art. Bespoke suits, dresses, and shoes are tailored and fit perfectly in contrast to off–the-rack options. Revenue in the Luxury Apparel market amounts to US$25.41bn in 2024, according to a report by Statista.

This trend stems from the need for personalization and quality so people can demonstrate their personal identity through wardrobe choices. Bespoke clothing pays such careful attention to detail when it comes to choosing fabric and taking measurements that the resulting garment is not only one of a kind in style but also in craftsmanship.

Private Aviation

Of all forms of aviation, private aviation is the most luxurious, the ultimate expression of convenience and privacy. From owning a private jet to holding memberships in exclusive aviation clubs, the wealthy prioritize time and ease over the constraints of commercial flights.

The appeal of private jets is evidenced by private jet deliveries in 2023 climbing 2.5%, according to statistics from the General Aviation Manufacturers Association (GAMA). It is an advantage for affluent people to avoid crowded airports, inflexible schedules, and lengthy security checks.

Luxury Wellness Retreats

Amidst the hustle and bustle of modern life, luxury wellness retreats offer an oasis of tranquility and rejuvenation. These exclusive resorts provide tailored experiences with personal trainers, nutritionists, and spa treatments in serene locales designed to nurture body and soul.

The Global Wellness Institute reports that the wellness tourism market is projected to reach $919 billion by 2022, driven by a growing emphasis on holistic health. Wealthy individuals seek these retreats as a means to disconnect from the pressures of daily life and recharge in a setting that fosters mental and physical well-being.

Disclaimer – This list is solely the author’s opinion based on research and publicly available information.