This Is What Elderly Millionaires Spend Their Cash on in Japan

By artappraiser on Tue, 07/18/2017 - 2:15am |

By Chris Cooper and Keiko Ujikane @ Bloomberge News, July 17

Retirees last year received one-time bonuses worth $210,000
Japan has more millionaires than China and Germany combined

[....] After seven recessions in two decades, it’s easy to forget Japan still has a lot of money. The country has more millionaires than anywhere outside the U.S. and, according to Bain & Company, its luxury market was the only one in the world that grew last year. European-made status symbols like Hermes handbags and Rolex watches are still splurges of choice, but now legions of Japanese retirees are spending on first-class travel.

“Japan is a terrific luxury market,” said Greg Schulze, an executive at online travel agent Expedia Inc. “And the travel market is just catching up.” [....]

URL:

https://www.bloomberg.com/news/articles/2017-07-17/older-and-a-lot-richer-japan-s-retirees-fuel-luxury-travel-boom