Julius Baer’s annual global wealth and lifestyle report provides an overview of the relative cost of maintaining a high-net-worth lifestyle in major urban centers. The 2025 report is a snapshot taken just before the Trump administration introduced new tariffs, continue to have implications for global financial markets.
Even before this point, the report says, the world was bracing for a global trade war, geopolitical tensions were running high and consumer spending was slowing.
The bank’s head of research, Christian Gattiker-Ericsson, notes in the report’s introduction that the Julius Baer Lifestyle Index declined by 2 percentage points in U.S. dollar terms since 2024. A decline of more than 1 point underscores the headwinds facing the high-end sector, he said.
To determine how the global situation affected the lifestyles and priorities of affluent individuals over 2024 and early 2025, the Lifestyle Index analyzed the cost of a basket of consumer goods and nine services that represent discretionary purchases by wealthy individuals. It does not represent their comprehensive spending patterns but indicates how selected goods and services are priced around the world.
Ipsos compiled and analyzed index data on Julius Baer’s behalf between November and March. The index is based on the prices at the time of data collection from brand-owned boutiques, websites or authorized vendors for items in 25 major cities.
See the accompanying gallery for the 15 most expensive cities for maintaining a high-net-worth lifestyle.
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