Capital is still a magnet for the world's ultra-elite

IT'S a tale of two cities - whatever hardships Londoners might be enduring, their home remains a magnet for the world's ultra-elite. The big hospitality brands know it: alongside New York, Tokyo and Paris, the capital's top-tier properties achieve some of the world's highest rates.

- John O'Ceallaigh

And they don't just profit from their overnight guests - a broader community of ultra-wealthy residents and moneyed tourists ensure their pricey spas, restaurants and bars remain busy all year round. Though these properties are beyond the reach of the majority of us, they're properly busy and generate serious money.

Deloitte's summer assessment of luxury travel has listed its global market value as $1.2 trillion, based on activity monitored in 2021, and expects the sector to enjoy projected growth of 7.6 per cent until 2030.