LONDON — The use of private jets is gaining popularity among businesses as well as the super rich, as the numbers of the ultra wealthy swell across the world.
Much of the increase has been centred on Asia, where Hong Kong has seen a 535% increase in private jet fleet size in the past 10 years, according to Knight Frank’s 2017 wealth report.
Taiwan, China and Macau have all seen a tripling of private jet ownership levels, but still have a way to go before they catch up with Latin America.
Four out of 10 of Latin America’s ultra-high-net-worth individuals (UNHWIs) — people who are worth more than $US30 million (£24 million) opt to fly privately “perhaps worried about the risk of kidnapping,” Knight Frank, a luxury property consultancy, said. That compares with just under one in 10 for Asia.
The numbers of UHNWIs are forecast to grow 91% in Asia within 10 years and, in total, the number of ultra-wealthy people across the globe is expected to grow by 43% by 2026.
The top three countries for private jet fleet size are the US with 12,717, Mexico with 950 and Brazil with 786.
Here’s the map showing where the traffic is:
And here is a selection of some of the most popular routes.
New York, Paris and Nice feature heavily: