The ultra-wealthy have continued to splash the cash on luxury items in 2020, despite Covid-19.

However, according to Wealth-X’s 2020 Global Luxury Outlook, the pandemic has altered the way wealthy individuals spend their money.

The growth of online shopping and delivery, enabling luxury services to be provided in the privacy of the wealthy’s homes, will continue. Intangible assets, such as additional passports and on-demand healthcare, will also remain a priority.

Globally, there are 2,668,240 individuals with wealth between $5 million and $30 million. While there are 291,470 with over $30 million in wealt...