- Africa's super-rich are increasingly shelling out for luxury liquor, according to an annual survey on wealth.
- The continent's luxury market generated over R80 billion in revenue last year, from splurges on luxury cars, watches, yachts and top-end booze.
- Remy Martin's cognac, Gran Patron's tequila, and Chateau Rothschild's wines featured among the continent's most popular luxury drinks.
The annual AfriAsia Bank wealth survey for 2018 reports that the African continent is now home to 155,000 dollar millionaires, and 24 dollar billionaires.
Those affluent Africans were between them responsible for more than R84 billion ($6 billion) in revenue from the sale of luxury cars, top-end watches, private jets, yachts – and booze.
The continent’s super-rich are increasingly spending on luxury liquor products like cognac and single malt whisky, according to the study, especially in Nigeria and South Africa.
High-net worth individuals are commonly super-private, so the study relied on interviews with the professionals and institutions that handle the affairs of the elite, such as wealth managers, brokers, and high-end hoteliers, Andrew Amoils, wealth analyst at New World Wealth which authored the study, tells Business Insider SA.
According to those interviews, these are the most popular liquor brands among rich Africans at the moment.
Remy Martin Louis XIII
Type: Cognac
Price: R49,999.00
Gran Patron Burdeos
Type: Tequila
Price: R7,999.00
Chateau Lafite Rothschild
Type: Wine
Price: R16,375.00
Chateau Mouton Rothschild
Type: Wine
Price: R5,199.00
Chateau Margaux
Type: Wine
Price: R4,220.00
Johnnie Walker Blue Label
Type: Blended whiskey
Price: R2,399.00
Dom Perignon
Type: Champagne
Price: R2,325.00
Hibiki
Type: Japanese whiskey
Price: R1,649.00
Glenmorangie
Type: Single malt whiskey
Price: R1,115.00
Hennessy
Type: Cognac
Price: R2,299.00
Woodford Reserve
Type: Bourbon
Price: R525.00
Moet & Chandon Champagne
Type: Champagne
Price: R975.00
Johnnie Walker Black Label
Type: Blended Whiskey
Price: R359.00
Veuve Clicquot Champagne
Type: Champagne
Price: R699.00
Jameson
Type: Blended Whiskey
Price: R299.00
Jack Daniels
Type: Whiskey
Price: R405.00
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