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Rich’s Luxury Spending Will Increase By $26.6B This Year, Poll Finds

NEW YORK (Michelle Nichols) – Rich Americans are expected to spend an extra $26.6 billion on luxury goods this year but they will do so with an eye toward value as the country recovers from recession, a poll released on Friday found.Spending…

NEW YORK (Michelle Nichols) – Rich Americans are expected to spend an extra $26.6 billion on luxury goods this year but they will do so with an eye toward value as the country recovers from recession, a poll released on Friday found.

Spending on luxuries, excluding cars and travel, is set to rise 8 percent to $359 billion compared to 2010, according to the sixth annual American Express Publishing and Harrison Group survey.

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