Manila among most affordable cities for the rich in 2025
Philstar.com
15 July 2025
Manila is among the most affordable cities for the wealthy, ranking 23rd out of 25 major cities around the world in the Julius Baer Lifestyle Index for 2025.
The index analyzes the cost of 11 goods and nine services representing the discretionary purchases of high-net worth individuals (HNWI). This includes items like watches, jewelry, handbags, luxury clothing, shoes, cars, as well as services such as healthcare, education, etc.
Singapore remains the costliest city for the affluent in 2025, followed by London in second, and Hong Kong in third.
Meanwhile, the five most affordable cities for the rich are Mumbai, Mexico City, Santiago De Chile, Manila, Vancouver, and Johannesburg. The South African city is the least costly city for the rich in 2025.
The Philippines' capital city dropped two places from its 21st spot in 2024. The index noted the "peculiarity" with the results concerning Manila, as there had been a 7.5% increase in average local currency prices.
What do the rich spend on?
Across regions, the index found a rise in business class air fares by 18.2%. This is attributed to a change in how people travel, "revenge spending," and an increased focus on experiential luxury.
"Upscale leisure travelers like to enjoy their entire journey. They do not want to get to the airport as late as possible and simply work or sleep through the flight as many business travelers do. As a result of this, many airlines are investing heavily in lounges, food and wine, and onboard amenities," the index reads.
HNWIs are also investing in their health and well-being. 100% of those surveyed in APAC said that they are taking some measures to increase their longevity through lifestyle changes such as regular exercise, good diet, gene therapy, and cryogenic chambers.
In the past 12 months, the affluent in APAC have spent the most on fine dining (65%), smartphones (65%), hotels (64%), healthcare (63%), and high-end clothes for women (55%).
As for specific commodities, champagne and ladies' handbags were the second and third costliest in Manila out of the 25 cities.
For the Lifestyle Index, prices were gathered from brand-owned boutiques, websites, and authorized vendors in 25 major cities in November 2024 and March 2025. Researchers also interviewed 360 HNWI with bankable household assets of $1 million or more across regions.
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