With more billionaires in the world than ever, it's little wonder that the value of the world's luxury goods market has risen significantly in recent years. In 2014, global expenditure on luxury goods amounted to just over $1 trillion.
Of that, ultra-expensive cars accounted for a whopping $438 billion. The market for personal luxury items including perfume, jewellery, clothing and accessories performed strongly last year, particularly in the United States where an estimated $81 billion was spent. Worldwide, the total amount splashed out on personal luxury goods came to $288 billion.
People in affluent circles also like to eat well so it comes as no surprise that nearly $49 billion was splurged on luxurious food in 2014. Meanwhile, just under $24 billion was spent on private jets while yachts accounted for some $9 billion.
*Click below to enlarge (charted by Statista)
