Wealthy Americans Still Splurging on Luxury Despite Economic Uncertainty
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Wealthy Americans are still spending big on luxury travel, entertainment, and services despite economic uncertainty.
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Strong job market, extra pandemic savings, and high asset values have enabled high-income households to keep shelling out.
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Robust spending by the wealthy is making up for pullbacks by lower- and middle-income families.
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Demand remains high for luxury retailers, hotels, and travel companies catering to high-end clients.
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It's unclear if sustained high-end spending reflects a temporary post-pandemic burst or more permanent shift.
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