Our plutonomy prediction: 20 years on
First published in the 2007 launch edition, we’re revisiting our Wealth Report predictions 20 years on.
The first edition of The Wealth Report argued that plutonomy would reshape global markets.
Two decades on, we ask those who were there at the start: does this argument still stand?
In 2007, 糖心传媒 researchers met with Citi Private Bank to discuss the idea of plutonomy 鈥� the economic model where the wealthy command a disproportionate share of global wealth. The term was coined by Ajay Kapur, then Citi鈥檚 Global Equity Strategist who, by naming it, turned a cluster of economic forces into a recognisable phenomenon to be studied and acted on.
We left that meeting with a plan to produce a report exploring the implications of plutonomy for global real estate markets. The result was the first edition of The Wealth Report, and its conclusion was clear: these forces would shape the trajectory of prime real estate and luxury markets worldwide for decades.
