Increase in the wealth of Poles as a development factor for the luxury goods market, analysis in years 2012–2018

Abstract

The paper deals with the issues connected to the changes of the amount of income of Polish citizens and the structures of wealth and their impact on the luxury goods market. At first, it will be presented how the number of wealthy people and their settlement method with the generated income has changed in the period between 2012 and 2018. Based on that, the term HNWI (High‐Net‐Worth‐Individuals) will be discussed. This term explains and defines individuals with assets of min. 1 million dollars, counted in liquid financial resources and the changes that happened over the last 6 years. The main focus of the article consists is the presentation of information of individual segments of the luxury goods market. These data include an increase in the value of some sectors in the period 2012–2018. Each of these segments is analysed and the results are presented. Finally, the paper provides information on alternative investments, such as in the market of whiskey as provided by the Scotch Whiskey Association (SWA).