Millionaires increased spending on luxuries in '09

Newswire

* Wealthy in emerging markets bought more luxury cars * Spending on luxuries expected to keep rising in 2010 By Helen Kearney NEW YORK, June 22 (Reuters) - As financial markets recovered last year, the world's millionaires again indulged in their passions for luxury cars, yachts, art and jewelry. While demand for many luxury items remains weaker than in 2007, spending on so-called "passion investments" increased during the second half last year and is expected to continue to rise, ...

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