Moscow, Russia to Nice, France is the most popular private jet route in the world, followed by Miami to New York and New York to Los Angeles, according to a report released last week by global real estate consultancy Knight Frank.
The annual Wealth Report documents the patterns of high-net-worth individuals — those worth over $US30 million — to analyse how global wealth distribution will evolve in the next decade.
The migration of wealthy private jet owners strongly influences the global luxury property market, and most of them are flying to and from the same handful of cities: namely, Moscow, Nice, New York, Miami, Los Angeles, West Palm Beach, Chicago, and Houston.
The majority of private jet owners are entrepreneurs, and over 80% of them are male, according to the report. Their wealth tends to come from the finance and oil and gas industries.
While the most popular routes as of 2013 tended to be to and from the world’s financial capitals and luxury property markets (such as London->Nice and New York->West Palm Beach, Florida), routes between some emerging markets and major financial capitals are becoming increasingly popular, such as Lagos to London and Maiquetia, Venezuela to Miami.
As the study points out, private jet routes can reveal the relationships between various global markets. For example, the increasing number of jets flying into key EU markets from Brazil and Argentina indicates that strong financial ties are being solidified between the two markets.
Business Insider Emails & Alerts
Site highlights each day to your inbox.