Luxury: São Paulo

Home to 147,000 high-net-worth individuals (HNWIs), Brazil is the largest luxury market in South America, according to the 2010 World Wealth Report by Capgemini and Merrill Lynch. These affluent consumers are responsible for the $6.7bn (£4.3bn, €5.2bn at current exchange rates) of luxury goods sales in the country each year, says Carlos Ferreirinha, president of local luxury consultancy MCF Consultoria e Conhecimento.

By M. Astella Saw