If you’re a millionaire with a taste for celebration, you might want to think twice before ordering a Krug or Dom Pérignon in Santiago de Chile. According to the Julius Baer Global Wealth and Lifestyle Report 2025, which tracks the cost of high-end living across 25 global cities, Santiago ranks as the most expensive place for high-net-worth individuals (HNWIs) to enjoy a bottle of champagne.
Hong Kong—despite being the third most expensive city overall for wealthy individuals —turns out to be the cheapest place to buy Champagne. Thanks to its tax-free policy and a highly competitive retail landscape, even the finest bottles of Krug are more affordably priced than in most other luxury capitals in Paris or London.
Champagne earns its place in the Julius Baer Lifestyle Index because it’s not just a drink—it’s a symbol. Alongside fine dining, luxury watches and handbags, it reflects the discretionary spending that defines the modern millionaire lifestyle. Its price is a measure not just of cost, but of celebration.
While the average price of Champagne across the 25 cities actually fell 4.2% this year—marking a rare dip in the broader luxury basket—the gaps between cities remain stark. In Manila, high taxes make Champagne a serious splurge, and cities with prohibitive taxes like Jakarta, Dubai, and Mumbai aren’t far behind.
On the flip side, Shanghai is the second most affordable city for Champagne, despite being the priciest destination for fine dining, based on the report’s ranking. And Johannesburg, better known for expensive MBA education, emerges as another unexpectedly budget-friendly city for luxury drinks.
But perhaps most surprising of all is that Paris and Monaco—two of the world’s most glamorous and moneyed cities—are tied for fourth most affordable. In other words, you’ll likely pay less for a glass of bubbles on the Riviera or in a Parisian palace than you would in Miami or New York.
Discover more from Vino Joy News
Subscribe to get the latest posts sent to your email.
