A new study released last week by the global real estate consultancy Knight Frank suggests West-Palm Beach is one of the top destinations for wealthy people and their wealthy-people planes. The Wealth Report lists New York to West-Palm with the fourth most private jet traffic, and West Palm-New York as the tenth most popular route. In addition, the study finds Houston to West Palm Beach is the tenth-fastest growing private jet path in the world.
The study is meant to analyze how global wealth distribution will evolve in the next decade, or in layman's terms; it tells us where the big money is coming-and-going, thus indicating where we can expect future wealth to reside.
Cities named on the report are a regular who's-who of high-class cities: Moscow, Dubai, Nice, New York, Miami, London, Los Angeles, West Palm Beach, Chicago, and Houston, just to name a few. According to the report, over 80% of the private jet owners were male, with wealth tending to come from oil/gas industries and finance.
The report showed about 60% of private jet traffic starts and ends in the U.S., with most containing either New York, Miami, or West-Palm. Seven of every ten private jets were shown to be coming or going to New York, a result, the report suggests, that may be padded due to the high amount of wealthy people mixing business with pleasure.
The report includes jets carrying individuals with a net-worth greater than $30 million, thus it can be used by some to more accurately project the future global property market; as rich people tend to live and do business in places they spend the most time.
The full list of the most popular private jet destinations via The Wealth Report can be seen below: