7 surprising ways the elite are showing off their wealth around the world
- Yachts, private jets, and fancy watches are common signifiers of wealth among the elite, but status symbols vary around the world.
- Status symbols aren't just shaped by social influence, but by cultural and economic contexts.
- From the UK to the United Arab Emirates, status symbols range from prestigious nannies to falcons.
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The evolution of status symbols is related to their public perception.
If enough outsiders adopt a trend, action, or brand, they can change the meaning of its signal, according to Wharton professor Jonah Berger in his book, "Invisible Influence: The Hidden Forces That Shape Behavior."Read more: The evolution of brands like Michael Kors and Abercrombie & Fitch explains the downfall of some status symbols, according to a Wharton professor
But there's more to status symbols than social influence - cultural and economic contexts also shape status symbols. For example, the cost of living in an expensive city like New York City has made the ability to raise more than two children a status symbol. In Singapore, meanwhile, where land is hard to come by, owning a house marks one's elite status.
Traditional wealth signifiers like private planes, yachts, and Rolexes may be a standard among the elite across the world, but status symbols also vary from place to place.
Here, seven status symbols from around the world.